Sunday, March 6, 2011

Sunday Thoughts

"Don't beat yourself up over a so-so month of finances. Overall, you've paid down your debt by nearly $2000 in 9 weeks, that's awesome!" - Makky's Mom

On starting my RRSPs: "I was one year older when I started. It's very overwhelming to start with but the key start. You have a well thought out plan. Congrats on taking the steps!" - Jolie

It's the comments from you all that keep me coming back every day, to write, read, and re-read everything. You keep me focused on my goals, help me to stay accountable for what I spend, give me different perspectives, and provide encouragement to help me through the rough spots. For that, I say Thank You a million times over. I feel like I have so many 'new' friends who can understand what we are going through, and can be there for us, if only just to listen to my ramblings.

On a different note, DD2 is super excited today. She has been saving diligently, even forgoing her mad money every week, so that she would have enough money when the newest version of her beloved Pokemon game is finally released. Today is that day. Let me tell you what happened last night.

She was on the computer, Googling all things Pokemon, which she does quite often. She realises that March 6th is the release date of the Pokemon Black & White. Not quite running, she grabs her Moonjar that she's been  using since Christmas, and asks if all the money in the saving category is for her college fund.

I think, what we have here is a teachable moment.

We find out the price of the game, and figure out how much will be added for taxes. I'm trying to teach her how to figure out percentages on a calculator, but she's too excited to really listen. That's OK though. We count out the money from her savings portion of her jar, and divide in half. I mention that from now on, what is in the savings portion is sacred, not to be touched, and monies saved for future purchases will go in the spending portion of the bank. Then we count out money from the spending part. Add the two together, and we have a grand total of $41.25.

The cost of the game with tax is $40.25. She will have a whole dollar left over after her purchase.

Knowing how excited she is that she has saved enough to get the game on the first day of release, Hubby heads out last night to get her a Pre-purchase Card, which essentially guarantees her a copy of the game. It costs $10.00 for the card, to be used toward the purchase price. He comes home, explains what he's done, and asks her to pay him the $10 he's shelled out. Then we take all the coins and bills she has (minus the $1 left over), explaining that we will allow the use of our debit card so she won't have to stand there feeling weird while the cashier counts her change. (The bank was closed by this time, otherwise we would have taken her to the bank to exchange her nickles for paper money.) We also explained that doing it this way will reduce the risk of her losing her money, or having it stolen while she waits with all the other excited Pokemon fans who are there to get a copy.

This morning, the child who always sleeps until noon on weekends, wakes up before 9 a.m., and is patiently waiting for our trip to Wal-Mart. In the past 12 hours or so, she has exhibited some of the traits of financial health that we hoped she is learning. She is learning how to save for what she wants, and not expect us to just buy her things when she wants them. She checked several places online last night, to try to get the best price for the game. She is being patient, which is usually difficult for a girl of almost 12.

I'm a very proud Mommy right now.

She doesn't know she only has to wait another hour before we leave.

Have a happy Sunday everyone.


  1. What a fantastic life lesson. There is no better to teach about money than when the child picks out the target for savings. Regardless of how she understand her moonjar before, this lesson has made a permanent connection for her.

  2. Nice job mom! Those real-life occasions are the best learning tool there is! She'll always remember this day and will be able to transfer those skills to other situations over and over again!

  3. That's great! My 2 oldest kids bought that game too! My oldest had a GC, and my daughter paid for 1/2 and earned the rest via: chores & babysitting! They're getting their new games tonight!