Kids and Money – Give Save Spend

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That’s Dad Stuff

Kids and Money – Give Save Spend 

My wife and I have been on and off the Dave Ramsey bandwagon for 5 years now. The Dave Ramsey Baby Steps have really changed how we manage our money. (Be on the lookout for my Dave Ramsey post in the near future!) The way you manage your money will be the financial foundation for your kids. Believe it or not, your kids are watching you and how you manage your money. Talk about the credit card? Use the credit card? Your kids will believe that credit cards are good and OK to use. Use coupons? Always looking for a bargain. Your kids will learn how to be thrifty as well.

A few years ago, I implemented savings jars for my daughters. I bought some mason jars from Amazon, cut a small opening in the lids for the coin slot, found some “girly” labels from Pinterest, and before you know it, we had our own Give Save Spend jars. 

I’ll be honest with you. This, in theory, is great, but as kids are brainwashed about money these days, my girls literally want to spend the money as soon as they get it. There are times where its really a fight to get them to save. BUT to their credit, they love giving. We have taken their give money to the Salvation Army at Christmas, the local needy Baby and Mommy support group. I’m really proud of them for love to give. But saving… it’s a struggle. They are 13 and 10 and they really love to shop and spend spend spend. While some parents really push a certain percentage goes into each category; I’m happy with whatever the money goes into the savings jar. 

I give credit where credit is due, threelittlemonkeystudios.com has a great write up on the jar concept along with the labels I used. 

How have you taught your kids about saving and giving? Any tips? 

That’s Dad Stuff

Water Heater Math and Kids

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Water Heater Math

That’s Dad Stuff  @thatsdadstuff

I have a 10 and a 13-year-old. They both like showers and that’s a good thing and all, but man, they take very long showers. It never fails, after they take their shower, there isn’t enough hot water for me. Now before you say, “You need a bigger water heater”, its 55 gallons and simply put it boils down to the amount of time in the shower. 

So I gave the kids a lesson in “water heater math”. 

I took the kids down to our basement and showed them what a water heater is. Then I explained what the water heater does, and how much water is in it. Next, we talked about what uses hot water and specifically focused on the showerheads. 

To make the math easy on them, I said the showerhead gave them 5 gallons of water per min. If the water heater is 55 gallons, how long would the water heater last? With wide eyes, my oldest quickly answered 11 mins. “Wow Dad, I’m sorry, I had no idea.” Then I asked what if 2 kids are taking showers at the same time? My youngest quickly answered “Even LESS!” (I was looking for minutes, but I will take that answer.) 

My oldest said she would take shorter showers now she knows this. 

I know shower heads gallons per minute are much better than 5 gallons, and there are some water-saving showerheads at decent prices on Amazon, but I wanted to really get the point across and make the math easy. 

Try Water Heater Math with your kids if you have long shower takers… let me know if you see a difference.

That’s Dad Stuff