It teaches us to save month by month for something, it teaches us to be patient.
When I was 10, we discussed with my mum that soon I would need a new bike. She didn’t have much money, so it wasn’t like we headed to the shop and I got the coolest one immediately.
She budgeted and put aside 2000 HUF (~5 EUR) each month for my new bike for a year. It was 2001, so 5 EUR was worth a bit more than it does nowadays. Each month we put the money together in the envelope and every time I counted how much we had so far. It took so long until I finally got the bike but I remember I really enjoyed this envelope counting, it was fun.
So, when I got the bike I was the coolest on our street and everyone wanted to ride it. I was so happy and felt amazing. I didn´t know a lot about budgeting at that time but my mum actually taught me some basics by managing her financials this way back then.
I think it´s very important to teach our kids about personal finances. But, in their own language, the way the message gets through.
It was just a short story about my late bike and how I got it. Do you have something similar from your childhood? Do you remember saving for something when you were a kid?
I still like cycling but now upgraded to a mama bike with two child seats. Enjoying outdoors with the boys. Do you ride? 😊