Starting to absorb the finance lessons

[Lucky Girl]

I apologize in advance if this is an obnoxious post, but I think many of you finance-conscious parents can relate.  If, so, please add your own stories!

Yesterday my five year old daughter asked if she could go to horse-back riding camp.  (She has asked for a horse before and I have explained how expensive it is).  I did the usual hemming and hawing, needing more info and not sure she is old enough for another few years.  She said, and I quote "that's okay if I can't do it if its too expensive."  YES!!!!  Of course we could "afford" it, but she is starting to understand!

[tonysemail]

Nice!  and just 5 years old too :-)

I was kind of horrified when my daughter wanted to buy a 1st grade yearbook.
But we pay her for good grades and well ... she earned it.

[StockBeard]

  She said, and I quote "that's okay if I can't do it if its too expensive." 

I'm always struggling when my kid says things like that. How, as parents, do we find a balance between raising our kids as "financial aware" grownups versus turning them into cheapskates ?

[Lucky Girl]

Yes, I certainly don't want her to feel as though what she wants is not important or that she should be cheap.  At 5, I just want her to start to know that we will not just pay for everything she wants.  A "No" should not inspire whining and crying about how important it is to her and a giant battle about how life isn't fair.  Nuance will come later. 

[gooki]

  She said, and I quote "that's okay if I can't do it if its too expensive." 

I'm always struggling when my kid says things like that. How, as parents, do we find a balance between raising our kids as "financial aware" grownups versus turning them into cheapskates ?

Buy teaching them the opportunity cost of spending decisions.