How We Taught Our Daughter about Saving: Top Family Finance Posts #4

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Mrs. Smart Family Finance took the initiative to start teaching my 3-year old daughter about savings and spending. It seemed like a natural development. My daughter has finally come to a point in her life where she is not contented to play with her fingers and pretend that they are baby animals. Now she wants replica miniature animals called Calico Critters.

Particularly, she has her heart set on a train for her babies. At $10, there is no way Mrs. Smart Family Finance and I are paying, especially when we miss watching our daughter make up little voices for her fingers; a past time that is both more adorable and cheaper. Mrs. Smart Family Finance is heading up a savings project with our eldest to come up with the funding she wants.

In exchange for dusting, my daughter will receive a few coins in compensation. A little help from mommy will be required and I’ll be keeping the white gloves in the dresser, but it does mean that total dusting in my house will infinitely increase from zero.

I’m skeptical to whether or not our early lessons will be a success. There is something to working to get money to buy things, but that doesn’t guarantee that someone with a job won’t spend beyond their means. Time will tell if things work out well and if not, we’ll be sure to raise the baby boy the right way.

(Apologies to the test children of the world, aka, the eldest

Top Ten Finance Posts for the Week


  1. One of the largest obstacles that young families are struggling with today is student loan debt. Couple Money has two government programs that could eliminate your loan debt if you qualify.
  2. Green Money Life talks about the downside to using Dave Ramsey’s debt snowball method for paying down debt balances. Since the strategy is often touted as the holy grail of approaches, it’s good to see someone point out the flaws.
  3. It’s been too long since I stopped by Jeremy’s digs at Personal Finance Whiz and I was not disappointed when I stopped by. Jeremy put together a great presentation on where your retirement savings should be at age 30. At age 30, it is critical that you schedule a similar financial physical. If you find your family behind in the savings game, now is the time to catch up while you still have tons of time and potential to make up the difference. There are no excuses for not saving. See Andrea if you need ideas on where to find money on a tight budget and see Kyle if you need 1,000 green portraits of George Washington as an incentive to start saving for retirement.
  4. I like to fall behind with the Jones when it comes to spending. Retire by 40 has all the average spending stats that are important, like coffee and beer consumption.
  5. Making Sense of Cents has been busy saving over $15,000 per year by cutting her budget. Check out what areas she cut and how she cut them.
  6. Marketing works and the billions that corporations pour into advertising proves it, but Face and Fitness is on to the sales tricks. Learn how to spot the marketing traps that stores use to snag shoppers.
  7. The Millionaire Nurse has me wondering what the world would be like if shopaholics took to vegetable shopping like they do with clothing stores. If you are looking for an investment that will pay dividends your whole life, try 5 servings of fruits and vegetables each day.
  8. My Personal Finance Journey is in search of what happens to your cell phone after you buy a new smart phone.
  9. Speaking of smart phones, you don’t need an insurance plan. Really! Don’t get one! And, should your friends all tout the wonders of smart phone insurance on Facebook, you can do what Funancials did, or you could start your own smart phone insurance company and live off your friends for life.
  10. Let me preface by announcing that I hate, detest, loath moving heavy appliances. Frugal Confessions reminds us not to trash our old appliances, even if they are heavy, because they are worth money.

Note: There is nowhere in Amanda’s article that she discusses the weight of appliances. I’ve added that in, because I can’t think of getting rid of appliances without thinking about how much I hate moving them.

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