Wednesday, March 14, 2012

Don't pay a cent- is it worth it?

I guess in our world today, most of us will not have the money to buy a home up front without the benefit of a loan. I know we certainly never would. What bothers me now though is that so much of our western world lives off of- “Don’t pay a cent till 2014” or “No interest, no deposit” philosophies.

Do we really need that new mattress so much right now, that we have to take it home today? Do we forget that they will have another sale in two months on the same product? Do we not have the option to wait? Too many of us have taken the opportunity to “buy now” on too many luxuries. This attitude is soon caught by our children.

One strategy we adopted with our children is to make a list. If you want something, write it down. This eliminates the stresses of the in-store “Please, please, please” routine. If you really want it, write it on your list and you can save up for it. Its amazing the number of times those “must have” items never make it to the “must have” list.

Another strategy we have, which many people have, is to have your children put a certain amount of money away. In this way we teach them to create a savings account, and not spending every dollar that comes in. One son couldn’t believe that he had 100 dollars in his bank account and has set the goal to build that to 200.

Dave Ramsey’s Total Money Makeover has been a real benefit to our family. I have a link to his site at the top right of this blog. One of his expressions is to “live like no one else does now, so you can live like no one else does later.” Simple and profound all at once.

What about you? Do you have financial strategies you’ve used at home to help with the “I want it now” syndrome?


Crack You Whip said...

I actually lived on very little for the first 10 years of my working life and invested it all.

I haven't worked in five years and will never have to work for the rest of my life, but basically the same strategies. I lived poor, but reaped a lot.

Great post!

Anonymous said...

We went through some tough financial times. As a kid I wasn't taught how to manage money. We are now on track and have talked openly with our kids as to what happened, why and how to manage money. The kids get an allowance. This money is not tied to any chores or anything. They can earn extra money by doing certain things like mowing the lawn. They each have their own bank account where all the money is put. If they want something they have to put forethought into it as they don't have easy access to money. As they get older they seem to be understanding that things don't make you happy no matter what the commercials say, and they talk about that when they see commercials for things.
I love watching "Till Debt do us Part" Gail Vaz Oxlade is an amazing person with a no nonsense money approach

ninest123 said...

louis vuitton, polo ralph lauren outlet, ugg boots, louboutin pas cher, polo ralph lauren outlet, ralph lauren pas cher, louis vuitton, nike air max, gucci outlet, ray ban sunglasses, nike air max, christian louboutin outlet, longchamp outlet, longchamp outlet, burberry, air jordan pas cher, louis vuitton outlet, chanel handbags, longchamp pas cher, michael kors, jordan shoes, longchamp, nike roshe run, oakley sunglasses, nike outlet, prada handbags, ugg boots, tory burch outlet, tiffany jewelry, louis vuitton outlet, nike free, ray ban sunglasses, nike free, oakley sunglasses, louboutin, prada outlet, cheap oakley sunglasses, oakley sunglasses, louboutin outlet, louboutin shoes, replica watches, sac longchamp, replica watches, oakley sunglasses, tiffany and co, louis vuitton, air max, uggs on sale, ray ban sunglasses, kate spade outlet

ninest123 said...

true religion jeans, hermes, north face, michael kors, true religion jeans, air force, michael kors, coach outlet, lacoste pas cher, kate spade handbags, mulberry, ralph lauren uk, nike roshe, vans pas cher, michael kors, lululemon, ugg boots, burberry, michael kors outlet, coach outlet, new balance pas cher, nike air max, nike blazer, michael kors outlet, ray ban pas cher, hollister pas cher, hogan, true religion outlet, hollister, oakley pas cher, nike free run uk, sac guess, burberry outlet online, ray ban uk, north face, nike air max, true religion jeans, coach purses, vanessa bruno, michael kors outlet, timberland, nike air max, michael kors outlet, michael kors outlet, ugg boots, tn pas cher, replica handbags, abercrombie and fitch, converse pas cher, michael kors

ninest123 said...

soccer jerseys, abercrombie and fitch, ray ban, timberland boots, hollister, babyliss, hollister, nike trainers, mcm handbags, beats by dre, baseball bats, vans, hollister, louboutin, herve leger, nfl jerseys, asics running shoes, valentino shoes, soccer shoes, chi flat iron, nike air max, vans shoes, converse, lululemon, p90x workout, celine handbags, new balance, longchamp, bottega veneta, north face outlet, reebok shoes, north face outlet, birkin bag, nike huarache, jimmy choo shoes, converse outlet, nike air max, instyler, ralph lauren, ghd, nike roshe, wedding dresses, giuseppe zanotti, insanity workout, mac cosmetics, iphone cases, mont blanc, oakley, ferragamo shoes, gucci

ninest123 said...

wedding dresses, karen millen, canada goose, louis vuitton, lancel, canada goose outlet, moncler, pandora charms, ugg,ugg australia,ugg italia, juicy couture outlet, moncler, moncler, links of london, barbour jackets, moncler, pandora jewelry, replica watches, marc jacobs, supra shoes, ugg,uggs,uggs canada, ugg pas cher, thomas sabo, pandora jewelry, swarovski crystal, moncler outlet, louis vuitton, canada goose outlet, barbour, montre pas cher, canada goose, moncler, bottes ugg, louis vuitton, hollister, canada goose, moncler, coach outlet, juicy couture outlet, doudoune canada goose, ugg boots uk, swarovski, canada goose, sac louis vuitton pas cher, toms shoes, canada goose uk, moncler, louis vuitton, pandora charms