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StitcherHow can we take care of our kids while also modeling the things that will be beneficial for our future lifestyle? It’s not easy to instill a frugal mindset while being a parent, as you will have to consider your children in every decision you make. This episode goes deep diving into the benefits of a frugal lifestyle and how we teach them to our kids.
With a frugal lifestyle, there can be greater levels of contentment, less buying impulsively, less collecting cheap things and being intentional about the things we purchase.
Sponsors:
- The advertising department. This is the advertising department’s semi-annual reminder that you are awesome and we love you. Podcasting is not a lucrative profession. Podcasting about mindful spending and value is even less lucrative. So we appreciate your grace and acceptance of advertising on our show. It allows us to make this podcast instead of doing other stuff to make money because Instagram followers don’t pay bills. Though you’d be surprised by how many things Instagram followers can get you. It’s much more than 4 million podcast downloads will get you. As a thank you for supporting us and the advertisers that align with your budgeted spending, the advertising department would like to gift you with a free 3-Day Spending Makeover! By the end of this FREE 3-day challenge, you will find what you value spending on, learn strategies for saying “no” to the things you don’t, and create a plan for guilt-free spending that won’t leave you broke. If that sounds like something you’d impulse spend on right now head to frugalfriendspodcast.com/makeover to get started today!
The Benefits of a Frugal Lifestyle For Kids
This article from the Portland Mom Collective gets deeper into how these principles of frugality will set our children up for their future and prepare them to solve specific financial situations well.
What Jen + Jill have to say:
Jen emphasizes that frugality is a lifestyle that is not just about not spending your money but knowing where the money is going in and out. The article further points out this quote, “Frugal Living is spending less than you earn. It knows how much you spend each month. It’s reducing waste. Spending less might mean reducing debt and/or increasing savings.”
Less stuff doesn’t mean scarcity but creates opportunities for the kids’ creativity to develop. It also teaches the kids to enjoy simple pleasures and the importance of choosing mindfully the items we own. Jen knows how much kids love to include themselves in anything. Allowing them to see organic instances of frugality can instill a sense of responsibility. Also, the more materialistic young people are, the unhappier they are.
Raising Kids with Frugal Living
The foundation of frugal living parenting is finding the radical middle. These 5 tips listed in My Mommy Style’s article go over how we should implement frugality in our kids that still allows them to prioritize themselves.
What Jen + Jill have to say:
As always, frugality is not about how much money you make, it’s about how you spend it. Jill thinks parents should teach their children what’s important to their family and to them as an individual. Let them manage their own money, so they can develop an ability to learn how to spend, save and give.
Jen, a parent, wants to set an example or model of frugal living. Remember that more is caught than taught. Try bringing your children to daily life activities and opportunities that let them engage with money.
A frugal thing we learned from our parents that we still do today
Many of us still carry the things we learned from our parents today, and Jen realized they don’t need a big house or a bigger space to be happy. As for Jill, her parents had a high value on keeping things in good condition and maintaining them, which she still does today.
BONUS: Check out Jen’s blog, 10 Frugal Things I Learned From My Parents That I Still Do Today.
Bill of The Week
Thank you Hailey for sharing your bill about a contest at your work that won you FREE health insurance premiums and how you are investing the money saved!!
Thanks so Much for Listening!
Thanks so much for listening! Many of you know we have a private community where we do monthly money challenges and offer accountability groups. We want to congratulate one of our members for a big win:
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My goal for 2023 is to save $5,000!
I want an emergency fund. I started by opening an online savings account yesterday (separate from my bank account) and deposited $250.
Congrats! Thanks for listening and if you want to check out our monthly challenge community head to frugalfriendspodcast.com/club to see what challenge we have coming up next.
Keep leaving us reviews on iTunes or Stitcher, and sending the screenshot to reviews@frugalfriendspodcast.com. And don’t forget to share your favorite quote from the episode by using the hashtag #FrugalFriendsNote. 😉
