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Nowadays kids just don’t understand the concept of “delayed” gratification. Everything is at their finger tips, available by the touch of a button.
But that doesn’t really prepare them for life once they leave our protective nests.
They’ll either learn the hard way that they can’t just have everything they want at the drop of a hat, or we can give them the heads up and prepare them so they won’t be disappointed and frustrated later…
…or worse!
…rack up so much debt that they end up having to file for bankruptcy before they even reach 25!
YIKES!!!
Yup, it’s true, young adults these days are said to be the top filers for bankruptcy, how sad is that?
And what exactly does that mean?
That if they want to buy their own house, they’re out of luck!
That if they want to get a loan for a car, they’re out of luck!
That if they want to have a credit card, they’re out of luck!
That if they want a job, their potential employers will see their back experience with money and get the idea that your child just ‘gives up’ when the going gets rough, so they’re out of luck,
Oh trust me, the list goes on and on and on!!!
It will take them a MINIMUM of 7 years to even get that wiped off their file so they can start all over again and hopefully NOT end up in the same situation again!
Is that what we want for our kiddos?
Of course not!
And that’s why it’s so important that we teach them delayed gratification from as young as possible.
But how do we do that in a world of instant gratification?
By offering both!
Yup, why try to fight society when we can use it to our advantage!
As you may know, I use a special money management system with my own kiddos that I call “The 6 Magical Piggy Banks” and guess what?
They work!
They allow your child to enjoy the feeling of Instant Gratification..
…but also that incredibly rewarding feeling of Delayed Gratification!
And even better:
My system teaches them how to not only enjoy delayed gratification but they get to also enjoy that feeling of pride of ownership because I teach your child how to earn their own money, and trust me when you buy something with your own hard earned cash, boy do you ever appreciate it so much more than if it was just handed to you on a silver platter!
Those were your long-hard-worked hours that went into that special goal!
That’s what we need to teach our kids, to be proud of their own efforts and to respect their own worth.
Here’s a very quick outline of “The 6 Magical Piggy Banks” and what they teach:
1. Grow – this bank teaches your child how to save for investing, to grow their money (making their money work hard for them so they won’t always have to work hard for their money!)
2. Give – this bank teaches your child the importance of giving back and how they actually receive so much more than those that they choose to help! (pretty cool eh?)
3. Learn – this bank teaches your child to save for their own continued learning, for college and BEYOND!
4. Rain – this bank teaches your child how to save for that rainy day when their world turns up-side-down (and trust me it happens to us all, but how many of us are actually prepared for it! Your child will be!)
5. Goal – this is bank teaches your child how to enjoy that feeling of pride of ownership that comes from delayed gratification!
6. Fun – this bank is what keeps your child excited and motivated to keep on saving in all the other 5 banks, this is the one that allows them to feel the fun of instant gratification and shows them that once it’s gone, it’s gone and that its okay to treat yourself once and a while too! 😀
My son, Quinn, saved for two years to buy his own tablet, he made this cute video to show you how excited he was and how proud he was of his saving but also of his skill at getting a better price too! 😀 Enjoy and feel free to share with your child to get them excited about saving up for something special too!
“Quinn’s Lesson in Delayed Gratification – I Bought My Own Tablet!!! 😀 “
It is crucial that we prepare our kids to be fully independent once they leave our nests and what better way than to equip them with all the money skills of the rich so they can live their best lives and help as many others as possible along the way!
I created a short cartoon and a special video lesson for both your child, teen and yourself to better understand how and why each of “The 6 Magical Piggy Banks” work to help you get your child excited and on the right path to financial success and appreciation.
Here’s to you and your child’s success with love,
Cheers…Amanda van der Gulik…Excited Life Enthusiast! ;o)
P. S. Did you find this article helpful? If so, then please help me empower more kids, teens and their families by leaving me your own comments below and clicking the ‘like’ button and ‘sharing’ it with your friends on Facebook, Twitter, Snapchat, Instagram, Pinterest, etc. Thank-you for helping me empower more Healthy Wealth Mentality kiddos. We need them! 😀
“Together we can raise kids and teens who are money savvy and get to follow their dreams because they know how to handle and value their money…and not come back crawling home to mom and dad to get them out of financial trouble!”
