Photo by Lon Christensen on Unsplash
EDITOR'S NOTE: The following is George Bailey's weekly report on he and his wife's efforts to teach their kids financial freedom.
I'm gonna be up front with you ("About time" — Asclepius, the pet snake). It's date night, so I'm going to have to rush this one. Okay, actually, tomorrow is date night, but I'm leaving town tomorrow morning for a few days on a business trip and there's no way that my wife and I are going without a date night this week. That's not how it works, nor is it how it should work. I can't remember a week when my wife and I have missed date night.
If you're thinking of a night out at a French restaurant followed by a walk downtown followed by the cinema, let me adjust your expectations ever so slightly (and my wife's). Instead of the French restaurant, we've already had cereal for dinner ("It's a cruel, cruel world" — my growing gut). Instead of the romantic walk, I'm doing laundry and ironing (some women might argue that those activities, when performed by a husband, are plenty romantic). And instead of the cinema, we're doing whatever it is my wife wants to do once I'm finished typing (probably a combination of Netflix, reading together, and punishing shrieking children). Date night!
Where was I? Oh, so I'm excited about how the allowance is going. The fact that we now do an allowance has afforded me the opportunity to reject rather effectively my children's pleas for everything they see on a store shelf. The conversation is quite simple:
"Dad, can I buy that?"
"Do you have the money to buy that?"
And so on. Thank you, Amy Wollenberg, for giving me the courage and wherewithal to be able to say no. Often.
Really, if you didn't catch this last week's podcast, you're missing out. Not only does Amy lay out a pretty nice defense of the allowance, but she also talks about how we should have our children interview our parents so that our parents can impart their years of financial wisdom.
I've got many, many more thoughts on the value of that activity but am going to wrap things up so that I can spend time with my wife, put my children back in bed, spend time with my wife, put my children back in bed, spend time with my wife, put my children back in bed ("Shoot me now!" — Asclepius, the pet snake), ad infinitum.