Breaking the Cycle: How My Parents' Spending Habits Taught Me to Save (and How You Can Too!)

Hey Honeybees, 

Today's blog is about saving money. In today's economy, saving money is super important. Even when it seems like you can't… I know how can you save money when you have no money start small. First you need to start tracking your spending. I still hate doing this, but when I do I automatically spend less because I dont want to write everything down. In addition, start withdrawing a small amount like $5, and if you don't find yourself looking for it before your next check, do it again another $5. Move up incrementally and as long as you don’t take from the account you'll start to see your savings grow. Tip: Don’t look at it, you'll want to “treat yourself” instantly.

How I learned to save money?

Growing up I watched my parents spend money like there was no tomorrow. It was paycheck to paycheck, and honestly I hated it. It taught me what not to do. Their actions, though unintentional, became a poweful lesson in the importance of saving. Seeing that cycle firsthand made me determined to break it. In addition to that, while working my first job out of college I realized that I was following the same paycheck to paycheck pattern and when my favorite shoe store would have a mid-week sale I couldn't participate and this led to me starting the money envelopes or savings buckets in my savings account. I learned that saving isn't about deprivation, it's about freedom and security. It's about honoring God with the resources He's given us. There's a reason why you're to give your “First fruits” to God, if you choose not to you may end up spending it on something else like coffee or fast food, or maybe that's just me hahaha.

What financial lessons did you learn from your parents?

Savings is a hard habit to start when you're older. Teaching children to save will aid in ensuring that they create and sustain health financial habits.

Let's get into some ways you can teach children to save.

Tell them your story about your own financial journey, be honest about any struggles you endured along the way.

Let them see you saving, make it tangible. Use clear jars or piggy banks so that they can see the growth. This way also allows you to lead by example and allow them to see you making wise financial choices.

Let me know if you plan on using any of these methods or comment your own ways to teach children to save money.