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St. James Plaindealer - St. James, MN
Healthy living noteables
Money matters with kids
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About this blog
By Valerie Brandt
I was born and raised a farm girl in rural Minnesota where I met and married the adoration of my lifetime! Our family currently lives in a rural community in Iowa where we frequently trade stories with the family \x34back home\x34 of the likeness ...
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A Healthy Dose of Spice
I was born and raised a farm girl in rural Minnesota where I met and married the adoration of my lifetime! Our family currently lives in a rural community in Iowa where we frequently trade stories with the family \x34back home\x34 of the likeness and differences of the slower life from one state to the next. My husband and I own our own business where we provide for our three growing daughters who are the light of our world. Writing has always been an outlet for me, starting a diary as young as 4th grade and continuing for each of my daughters currently. Writing clears my mind and my heart of things that I would rather say but don't (due to my impeccable manners) or did say and wished I hadn't (sometimes those manners fail). I am clearly outspoken and am working on being filled with grace and compassion. In my spare time my family and I enjoy reading, biking and cooking. We do NOT enjoy cold snowy weather.
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By Valerie Brandt
Sept. 27, 2013 7:54 a.m.



Yesterday I had a unique opportunity.  I was on a bike ride with my three lovely daughters when three 10 year old boys were stopped at a stop sign, also on bikes, talking to one another.  One asked me if I was who they thought I was, and when I confirmed it, they had all kinds of questions for me.  For 20 minutes I visited with these nice boys and at one point, they asked me if I was rich.  No, I replied, but I have very little debt.

This entered into a fairly simple conversation about debt and money.  Right there at the corner I gave three 5th grade boys a lesson in basic economics.  You don't have to make a lot of money to be "rich", but you have to have little or no debt in comparison to what  you make.  If you make a paycheck of $500 a week but you are constantly spending $600 a week, that is a plan for poverty.  If you make a paycheck of $500 a week but you only spend $250 then you are on the road to being free from the bondage of debt.

They asked very good questions and I got to wondering how often parents sit down with their kids and talk money, particularly the parents money.  I believe we enter into this thinking that it is taboo to talk money with even our kids, but these kids had great questions.  I answered them to the best of my ability and I hope that in the long run I gave them something to think about.  

Do you spend more than you make?  Do you have a savings account?  Are you able to tithe if you attend a place of worship?  We are teaching the girls this now.  When our Firstly gets her allowance of $1, the first $.10 goes into a bank for God.  The next $.40 goes into her personal bank account and the final $.50 goes into her purse to spend.  Our family rule is the first 10% goes to God, the next 40% goes to savings, the final 50% is spendable.

We want our girls to have a lifetime of financial freedom, and it starts by the simple plan of: spend less than you make.

 

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