Can you imagine a society that used only dollar bills for payment of goods and services? No five dollar bills, no tens, no twenties, and nothing higher than that? This society wouldn't use credit cards or debit cards, either.You go to the store, and your grocery bill comes to $127.00. You have to count out $127.00 in one-dollar bills. That can get tedious! How about buying a $17,000 automobile? Whew! You'll be counting and double-checking for a long time, and so will the salesperson (probably driving up the price of automobiles, as well, since the dealership would have to hire more people to handle the money).
What is my point here? We've made it very simple and easy to spend money. Credit cards are so easy! Checkbooks are so simple. Standing in line counting out several hundred dollars worth of singles when buying a new television would be painful for everyone.
I believe that our spending habits would be greatly altered if we didn't have such efficient means of getting rid of our funds. However, it's not too late to teach our children how to look at spending in those terms. My advice?
Counting it out takes work. It also forces kids to think more about what they're spending. It's not just a number; it's an amount. It's a quantifiable sum of money. Chances are that forcing them to think more about how much they're spending will encourage them to be wise and think long and hard about how they use their money!
Mia Cronan is a married full-time mother of three girls, ages 5, 3, and 1, living in Pennsylvania. She owns and edits MainStreetMom.com, the magazine for modern mothers with traditional values. Mia can be reached at firstname.lastname@example.org.
Sign up for our free eNewsletter Dollar Stretcher Tips.
Looking for an answer to a frugal living question? Click here to ask a
Dollar Stretcher Stretchpert!
Copyright 1996 - 2013 "The Dollar Stretcher, Inc." All rights reserved unless specifically noted.
Contact the Dollar Stretcher at:
PO Box 14160
Bradenton FL 34280
"The Dollar Stretcher, Inc." does not assume responsibility for advice given. All advice should be weighed against your own abilities and circumstances and applied accordingly. It is up to the reader to determine if advice is safe and suitable for their own situation.