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Ask Dave

All She Wants To Do Is Save, Save

Most kids have a problem with saving or giving money, but how do you address a spending problem?

QUESTION: Listener wants to teach her child to spend as part of her spend, save and give system. How did Dave teach his own children to spend without buying a bunch of junk?

ANSWER: Everybody on the planet has an item or type of item that they like. Compliment her on being a cautious and wise spender. However, being a wise spender involves knowing that part of what money is good for is having fun.

If they say it’s not fun for them to spend it, then this person has gone beyond caution and is operating in fear. She doesn’t need to worry about not eating because you are her parents and you provide for her. Tell her you want her to know when to give, save and wisely spend. Coach her out of her shell. She’s so cautious that she’s fear-based. That usually makes them a super saver and a lousy giver. Most big spenders are big givers and lousy savers. Help them fill in the gap of where they are struggling.