Struggling to teach my kids some financial sense. Have tried many methods, philosophies, schemes and rules for saving, spending, etc.
- Barefoot Investor for Families? Yep, tried it: great book, great advice, zero result from the kids.
- Forced savings? Endless fights, tantrums, cheating and even stealing to get money to buy crap snacks down at the local low-price supermarket.
- Showing our own budget and savings as examples? They don’t care at all.
- Matching savings (dollar-for-dollar style idea)? Well, at least when they ignored that one I saved some money.
- Asking a friend to “employ” them and then mandatorily saving half of the “wage”? They want to quit their extremely cushy job because they don’t get enough in their hand to pay for lollies.
- Letting them blow the lot, then go penniless? They just beg/borrow from friends with a sob story.
- Ensuring they have zero cash on hand when they leave the house? Again, they just beg/borrow from friends.
So totally and utterly frustrated, is it OK if I finally just give up and admit I’ve failed financially as a parent? When do you say “enough is enough”?