Part 4: Preventing Financial Disaster
In a recent survey by the American Psychological Association on stress, people said that financial woes produced their chief woes during the holidays. But is it necessary to spend a lot of money in order to make it a great time of celebration?
How can we keep from maxing out financially, especially when kids seem to want everything and have no idea how hard it is to juggle the money issues?
Not only is it financially wise to put the brakes on extravagant spending, it is good parenting to refuse to reinforce in your children the “gimme” mentality. After all, the season is about giving, not getting. It’s about love – not lust for more things. It’s about reflection on the true meaning of the season and the values taught by your faith. So this discussion involves more than preventing the maxing of the credit cards. It’s about actively teaching your kids a way of life that does not include “entitlement.”
Leading up to your own celebration, actively involve your kids in some kind of family project to help the less fortunate. One Christmas, my grandchildren and I adopted a family whose home had burned. I asked the Red Cross for a family with children about the same age as each of the grands, and got permission to deliver the presents ourselves. Planning and talking about this needs of a family who had lost everything put our own wants into perspective.
Even young children can be taught the value of money by essentially giving them a budget and allowing them to select what they want within those parameters. They get practice in making choices and trade-offs, which we all have to do in life, don’t we? It’s a great life lesson to gradually come to understand that resources have to be shared with others, and that you don’t always get what you want when you want it. .By the way, it absolutely will not damage their little psyches to hear the word “no.”
The next installment of these holiday FAQ’s involves the daunting challenge of getting everything – no, the most important things done during the holiday season. More than ever, it’s essential to be able to manage your time. We’ll discuss that in the next segment.
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Want to reprint this? The answer is “yes” if you include the following attribution: Dr. Bev Smallwood is a psychologist, speaker, Show Host at The Women’s Information Network (thewinonline.com), and author of “This Wasn’t Supposed to Happen to Me.” Visit her website, www.DrBevSmallwood.com, or contact her directly at 601-264-0890.
