As another week of 2014 speeds by us, it’s time for this week’s teaching children about money post. This week it’s all about saving versus spending and is inspired by a couple of interesting conversation I had with the kids last weekend.
Miss Frugal has been after a bottle of the new One Direction perfume since it first came out but I’ve held off buying it on principle because, as I’ve said before, it annoys me that it’s priced so highly when it’s aimed at young girls. It was on her Christmas list but after I explained that if I bought her a bottle, it would be the smallest bottle (3oml) that would no doubt be gone in no time and would be £20 that could have been spent on other presents for her and she said she’s rather have other things.
We then forgot all about it although it seems that almost every girl in school got a bottle judging by the One Direction scent that wafts around them all (not even joking here). But last week, we found it on offer in Boots and in reminded her that she loved it and would like a bottle. It was still expensive so we walked over to Superdrug just in case they had any offers on and we found the big 100ml bottle for £19.99 which is half price.
She gave me puppy dog eyes and fluttered her eyelashes and I said she could have it as long as she paid her savings towards it which would mean that she paid £15.00 for it and I gave her £5.00 and do you know what she said to that?
“I’m not sure I want it if it has to come out of my money.”
That made me smile.
I’m not sure I like paying for half the things I have to pay for but that’s life isn’t it? We had a quick chat in the shop and I told her that was my best offer although she did try to negotiate bless her. She ended up buying the perfume herself and she’s very happy with her purchase.
So this week Miss Frugal learned an important lesson about saving and managing her own money and at the same time, Master Frugal was busy learning his own lesson.
While we were having the perfume debate in one shop, Master Frugal had gone into another shop with his Dad and spotted some alien in gloop toy that he was apparently so desperate for that Mr Frugal let him
waste spend most of his pocket money on. He was over the moon with his purchase until we went to another shop where he found a chess set (he’s dying to learn all of a sudden) that he couldn’t afford because he’d bought the alien.
I considered buying the chess set but decided to use the situation to teach him a money lesson (mean mummy) and told him that in future he should think about what he buys before wasting money on something that he’d be bored with in no time all.
So this week’s learn is that I can use everyday situations to teach them about money.
Last night we were in the butchers section of the supermarket and we stood and worked out what meals we could have for less than the cost of a piece of steak and this weekend I’ve challenged Miss Frugal to plan a fun day out on a budget for us all so she’s planning away as we speak!
* PS. If you see me and I smell of One Direction perfume, it’s not because I like it or anything. Miss Frugal will have just caught me in her enthusiastic spraying. Honest.*