Tag Archive | parenting

My Son Gets a Learning Lesson on $400 worth of “Debt”…

My 16 year old son got a job over the summer at a local restaurant chain. He started collecting quite a bit of money in his tip outs at the end of each week. I told him that he should start letting his checks go into the bank and spend only his tip money. He reluctantly agreed; but soon realized the tip money was more than enough. He also decided that since he got a job he wanted to upgrade his phone which would cost $45 a month for the phone and insurance. I told him that as long as he was certain he could pay the $45 I didn’t care. (I pay for the service).

About 4 weeks ago I got onto his online banking account and realized there was WAY more debits than there should be since he has cash to spend. I totaled it up and he had spent about $400 in unauthorized (by me)debits. I spoke to him and we talked about how easy it is to whip out a card when you don’t have cash. Then I broke the news…I said to him, “$400 adds up fast over a few months when it’s $5 here and $5-$10 there huh? He was shocked that he spent so much that he was completely unaware of. I told him the right thing to do was to pay it back. He immediately started freaking out! “I don’t have $400!” My response was, “if this was a credit card you’d have to pay it back. And since you spent money on your card that wasn’t supposed to be used then you need to pay it back.” He protested that it was his money. I agreed, however the agreement was that he would only spend his cash. He was really upset with me but agreed he’d pay it back in installments. I told him the longer he took to pay it off the more interest it collects. He replied, “I have to pay interest on my own money!” I told him it was the responsible thing to do. I told him this was a great opportunity to learn how “debt” works. A high risk credit owner usually has an annual interest rate of around 22%. That’s about $88 a year in interest on $400. We sat down and I explained that if he divided $88 over 12 months that equals a monthly interest charge of about $7.35 per month. (I didn’t bother trying to explain that monthly interest rate amount decreases as the balance goes down). I’ll get into that another time.

I told my son stories upon stories of how I constantly over drafted my checking account in my 20’s. No one taught me how to be smart with money. I got my first credit card at 21. I had 3….all maxed out and I was in about $5,000 worth of debt until tax time rolled around and I paid it off and started over. (I was a single mom and I got a lot of money back). I never learned until I got married to a financially savvy guy at 28. He taught me everything I know about investments and, savings, and NOT using a credit card to get what you want. I explained to my son a “need vs a want.” It sank in and he totally started to see the picture I was painting! He went to the bank later that week and paid off all but $170 of the $400. He told me a few days ago That he’s been setting 70% of his tip money aside to pay back his “debt”. I was SHOCKED, he was PAYING ATTENTION!

Next week he plans to pay off the rest (including the interest). I told him…”At least your paying yourself back and not a credit card company right?” His response? “Thank God!!!”

I had him put his debit card in a safe place outside of his wallet so the temptation to pull it out was no longer there. In just 4 short weeks he’s been so amazing at saving money to pay his phone bill due on the 3rd of December and pay back the rest of his debt.

This has opened the door to us talking quite a bit about finances, what college expenses will possibly entail, future household bills etc, interest on cars, homes etc. we’ve talked about debt vs equity. I told him that if I didn’t teach him about wise spending and saving habits he’d have to learn the hard way like I did. Not to say it still can’t happen, but at least he can never come to me and say “why didn’t you tell me about this major part of life!”

Daunting debt

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“Life Hacks” Mom-Style….

You’re welcome! No one ever shared this information with me, so simple yet…..

I, for the first time, was teaching my daughter how to separate her darks from her lights when doing laundry. She tends to build up a lot of laundry since she is a 13-year-old girl! When she realized that I was going to sit next to the washing machine, and help her differentiate what was light and what was dark, she informed me that she knew how to do her own laundry. I told her she had enough laundry that she was going to have to do two loads anyway so she needed to learn how to separate her lights from her darks. She reluctantly let me help her, asking periodically if something was light or dark.

When we finished, I told her that it wasn’t that I was trying to tell her what to do….it was just that I was trying to help her realize that clothes are getting more expensive, they aren’t made as well as they used to be, and if you can save something from being ruined because you worked hard to buy it then you should. I think she realized I just wanted to help her and she thanked me.

I told her to look at it this way, look at it as though I’m giving her “Life Hacks”. Not really trying to tell you what to do, just trying to make your life a little easier in the long run for when you get older and move out. “Life Hacks, not “my way or the highway!” Well at least until curfew is an issue anyway….. But that’s another story for when she’s a little older.

Daughters….so much to learn…God bless them…

I have a new parenting note I’d like to share. I, for the first time, was teaching my daughter how to separate her darks from her lights when doing laundry. She tends to build up a lot of laundry since she is a 13-year-old girl! When she realized that I was going to sit next to the washing machine, and help her differentiate what was light and what was dark, she informed me that she knew how to do her own laundry. I told her she had enough laundry that she was going to have to do two loads anyway so she needed to learn how to separate her lights from her darks. She reluctantly let me help her, asking periodically if something was light or dark.

When we finished, I told her that it wasn’t that I was trying to tell her what to do….it was just that I was trying to help her realize that clothes are getting more expensive, they aren’t made as well as they used to be, and if you can save something from being ruined because you worked hard to buy it then you should. I think she realized I just wanted to help her and she thanked me.

I told her to look at it this way, look at it as though I’m giving her “Life Hacks”. Not really trying to tell you what to do, just trying to make your life a little easier in the long run for when you get older and move out. “Life Hacks, not “my way or the highway!” Well at least until curfew is an issue anyway….. But that’s another story for when she’s a little older.

Love,

B~

raising-teenager-ecard

Seize Every Opportunity……

Tonight my son, Taylor, was telling me about one of the new friends he’s made at school. My son is a freshman and has never really hung out with a group of “guys” until just recently. Anyway, he was telling me how humbly this young man and his father live due to his father not making a lot of money. This young man had to grow up fast because his mother abandoned him and his father. They are Hispanic, and it sounds like the father works a crazy amount of hours 6 days a week to provide for his son. Taylor was telling me that they had some deep conversations a few nights ago. One of them caught my ear. He said his friend LOVES to cook, and would make a whole chicken and cornbread every night if he could.

I found this to be an EXCELLENT opportunity to teach my son about human conectivity….seeing a need and helping if possible. I got on Facebook, placed a wanted ad for a free or small fee rotisserie for this young man and his father. In about 10 minutes we got a response from a lady that had one she was willing to donate. Taylor was FLOORED that I cared enough to help his friend. But I know what it’s like to be that kid. I grew up very poor with a single mom who worked whatever hours she could get. It was hard.

I am NOT writing this post to get kudos for doing a good deed. I am writing it because I am hoping to inspire other parents to teach their children about kindness. We are living in a world that’s so “all about me” anymore and it’s sad. We should be helping one another where we can. I use EVERY SINGLE OPPORTUNITY I can get to teach my kids a lesson in something. Every conversation can lead to a moment of opportunity to TEACH.

This conversation turned into me telling Taylor how many times I used to overdraft my checking account when I was a young adult because no one ever taught me what a budget was. This turned into giving him examples of several ways banks work.

I feel fortunate that I am so incredibly close with my children. When I talk, they listen. It’s important to build this foundation of trust from an early age.

I am also learning how to give them a LOT more freedom than I ever thought I would be giving them at their ages. They have earned these privileges. But that’s exactly what they are PRIVILEGES; because as fast as they earn them, if they mess up, they can be taken away. Lack of consistency in your discipline will cause your child to question whether you will stick to what you say. Let your YES be YES and your NO mean NO….PERIOD. DO NOT GIVE IN! Let them cry, throw fits, whatever, but do not give in because the second you do, they just learned that they can manipulate you to get what they want if their persistent long enough.

Every single moment is a learning opportunity; it’s your job to spot them and work the conversation into that opportunity without making it sound like a lecture. I’m a total softie when it comes to my kids when they are doing well, but I am a total hard-ass when they are screwing up. It’s a fine balance. It’s not easy and sometimes I stop to question if I am doing it right. But I know that I am doing the best I know how. My goal is to teach my kids all the lessons that I didn’t learn as growing up. Isn’t that the point? To break the cycle of dysfunction and help our children achieve their lives dreams?

So commit….if you are a mom or a dad it is your DUTY to commit to your child everyday. I know I am not perfect but I do give a lot of good advice I’m told. If you have a parenting question that you would like to ask please feel free to email me at nailtechconfessionals@gmail.com. Your question might be something someone else if wondering as well. We are a community, let’s help one another! If I don’t know the answer to your question, I will simply tell you. I won’t make you THINK I know what I’m talking about. I will write more on this later but I am really tired and gonna head to bed.

Loves,

~B

Top 10 Ways to be a GREAT Parent…(in my opinion)…

1. ALWAYS DISCIPLINE

2. YOUR CHILDREN COME FIRST…THEY DIDN’T ASK TO BE BORN OUT OF YOUR VAGINA….Don’t be a douche and put them last

3. DON’T BE SCARED OF YOUR CHILDREN…Make them fear you like you fear the Lord (or whatever you believe in…Like karma)

4. SET BOUNDARIES EARLY…AS SOON AS THEY CAN UNDERSTAND THE WORD “NO!” This hands off parenting is bull crap!

5. MAKE YOUR CHILDREN WORK FOR WHAT THEY WANT…NOTHING SHOULD BE FREE (they want a new toy? Make them help you do something you wouldn’t normally have them do like wash windows or dust)

6. YOU ARE THE MOM….YOU MAKE THE RULES…NOT YOUR KIDS (Do NOT give in to whining! They are smart! Your life will be ruled by a whining brat in public, do you really want that?)

7 . TEENAGERS ARE NOT SCARY IF YOU TEACH THEM “NO” AS TODDLERS (Ask my kids what happens if they pester me after I have told them “no”) I promise it’s not good….

8. YOUR CHILD HAS A SYNDROME? THINK ABOUT SOME MEDICATION SO THE REST OF SOCIETY CAN FUNCTION (I’m not saying to medicate your kids like zombies, but a good ADHD or anxiety medication never hurt a kid!)

9. YOUR KIDS WILL DO WHAT THEY WANT AS TEENS…DO NOT ENABLE ( I just had a talk with my kids…I said, “If you screw up, I WILL NOT rescue you! You will suffer your consequences”

10. FOLLOW STEPS 1-9 AND YOU WILL BE A GREAT MOM/PARENT!

She is My Daughter…

My daughter is like a breath of fresh air

I look at her sometimes and it’s just so hard not to stare…

She is such a remarkable, wonderful girl

I know someday a boy will make her head whirl…

I worry so much about her heart getting hurt

He better make his feelings plain and overt…

She will forever be eight in my head and my eyes

He will be very sorry if he should make her cry…

I will whisper to him “I’m not afraid to BACK to prison

For pissing this mother off is deeply forbidden…

I will not hesitate to slowly make you suffer in pain

So do not hurt my daughter it’s not worth what you think you might gain…