Money Jar – Tip # 78
Saving money has always been something that other people do really well with! We spend money like we just won the lottery (and the most I ever win is a free ticket or $2!). I thought that this would be a good one of my tips to follow and started it a month ago. My husband was away on exercise for 4 weeks (just arrived home this week) and I decided to follow my own advice and put money in a jar for each day that he was away. We are going to sit down together this weekend and decide on what fun thing we could all do with the money. My kids think that four weeks of saving $2 a day means that we can take an all inclusive vacation to Mexico or head to Europe! It was a harsh reality check when we said that it was only $60 and that we would need to add several zeros to reach a beach resort anywhere.
Needless to say that this experience made me realize that my kids are definitely old enough that they should have a better sense of money than they (and we) do. They also need good spending habits and even better saving habits modeled for them. I decided to get out the money jar for the next year of IR (Impose Restricted – my husband lives and works on another base and comes home on the weekends). I also decided that we needed to have a goal in advance so that we know what we are saving for – we have agreed that we should use the money to have a holiday somewhere we have never been before (it will all depend on how much we save as to where we go).
Some of the challenges of this goal already have been that I don’t always have the correct amount (or any money at all) to put into the jar. I went to the bank after work today and had them change a $20 for me. I will then be able to quickly give one of my kids the money to put into the jar for a few days in a row. Another challenge has also been not ‘dipping’ into the jar. My son needed money for school and it happened to have the perfect amount of money that I needed. It was soooo tempting so we glued the lid on and put a hole in the top of it! I figured it will be filled for a year before we need to crack it open (literally) and this will stop me from ‘borrowing’ from it. Lastly, we started with a jar that you couldn’t see through and it meant that we could see the money piling up so we went to the store and bought a clear jar and decorated it ourselves. The whole thing cost us under $4.
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