Sunday, March 29, 2009

Frugal Financier

How many of you are in charge of some part of your household finances? Maybe you work very hard outside the home and add income into the family budget monthly. Possibly, you have sacrificed a paycheck to become one of the very hard working but unpaid workforce (stay at home mom - or dad as the case may be). Possibly you carry the responsibility of managing all or part of the family monthly budget.

You do have a budget don't you.......

Sorry, that's another blog post.

When we put on our frugal financier hats, we show our kids the value of a dollar. We teach them how to spend wisely, how to make most financial choices based out of need - not want. We show them that money is not an unlimited resource, but a resource that needs to be treated with responsibility and with respect for the hard work that is put into obtaining it.

This is what my frugal financier hat looks like when I am wearing it in front of my girls:

1. We do go shopping. However, the vast majority of the time we spend shopping is when they NEED something. When we go, we have a great time searching clearance racks, closeout stores and yes, even Good Will. It almost becomes a game of who can find the best bargain.

2. At the beginning of the school year, we have a set dollar amount for new clothing for the girls. They each have a certain allotment and are responsible to pick out what they need, but still stay within the budget. If there is any left over, they can pick out what they "want".

3. We eat out on occasion. However, we make most of our meals at home. In fact, we sit down to dinner as a family at our dining room table at least 5 times a week. We have discussed the benefits of cooking at home with the girls - healthier, needed life skills, less expensive than eating out.

4. We live on a written monthly budget and allow certain dollar amounts for certain activities. our children are aware of this budget and understand the concept of budgeting.

Now there are many other ways I wear this hat. There are probably too many to list here. I believe it is important to set a good example for my children when it comes to finances. In this world and this economy, no one can afford to be financially foolish. If I wear this hat often, I hope I teach my girls the financial commonsense they will need to make wise financial decisions when they are older.

I challenge you to think of 4 ways that you wear your frugal financier hat.


  1. I completely agree with you Angie! It is so important for kids these days to understand how to manage money and credit. Let's see four ways I wear my frugal hat, hopefully I can copy one or two from you!

    1) I discuss with both our kids "want" vs. "need" to help them save their hard earned $$.

    2) We take the kids grocery shopping with a pre-made list, coupons and we hunt down sale items.

    3) We rarely eat out as well, but when we do, I try to use coupons or go early for the specials. Same goes for entertainment - we go to AMC early on the weekends so we only pay $5/ticket.

    4) I register for restaurants/retailers email lists so we receive notification of sales and coupons.

    Great post as always!

    Julie -

  2. Good computer was slow in starting, something about needing to update, so I threw it away and bought a new one so I could read your post. I put the old computer with the other 6 I discarded for the same reason. Then I think I will pay someone $50 a month to store them for me. How is my frugality?
    ;0) Love you and your posts!

  3. Absolutely! Budgeting is a skill which is essential for anyone, especially one on a limited income. The concept of "if I spend it now, I won't have it later" is imperative for food and basic living. Of course cook at home - it's healthier AND cheaper. Of course go to goodwill/thrift stores - the bargains are mindblowing. And the biggie - want vs need! We truly NEED so little to be happy.

  4. We have been trying to stick to a budget and teach our girls the value of a dollar as well. They are young and think that if they want it, we can buy it, but they are starting to catch on!


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