My kids are getting really curious about money…
So recently, I made a deal with my 7-year-old son.
If he read this big Dr. Seuss book by himself, he would get 5 euros.
Now, I’m not saying this is a great parenting strategy (probably not). . .
But here’s what I noticed.
My son has no frame of reference for monetary value.
He was excited he would get “five cents” until I explained that “five euros” is something different.
He has no idea what that money is actually worth 👽
It reminds me of the famous quote from Arrested Development, where wealthy Lucille said:
“I mean, it’s one banana, Michael. What could it cost? 10 dollars?”
If you’re a little kid. . .
or if you’re wealthy like Lucille. . .
or if you’re simply doing well enough that you don’t need to look at prices in the supermarket. . .
You get disconnected from what money is actually worth today.
I’ve been there.
🍌 There was a time in my life when I never checked prices at the grocery store.
I thought – ”I’ve moved beyond that.”
But soon I realized I was overspending. . . by a lot.
Which eroded the savings which allowed me to not care in the first place.
🚀 So here’s a great exercise I do from time to time…
Get a notebook and for the next week write down every single little expense.
At the end of the week, go through the list.
See where your money is going.
See how much things actually cost today.
You might be surprised at what you learn.
And hopefully this will be a great “kick in the pants” for your savings discipline!
