This year Marisa will be graduating from school and moving on to life in the adult world. Now what is that supposed to mean? Well it could mean getting a job and learning how to spread one's earnings to cover essential expenses. Such expenses as food, rent, phone, utilities, clothing needs and recreation all must be taken into account.
Up till now Marisa has been living a fairly protected existence. She has learned to earn goal points that she can trade in for things she wants. However, entering the adult world means one has to be able to stretch what is earned in money to cover the cost of the things needed and hopefully still have something left over for special purchases. To help Marisa realize the importance of budgeting her money, we now sit down at the beginning of each month to go over the expenses she has each month. She then has an opportunity to consider how she would like to use her extra money. She may decide to use it or save up for several months toward something extra special.
Early each month we talk about the things that are necessary to pay for and then discuss the things she is interested in purchasing for that month. She may want a new dress for a special occasion or a new pair of pants for her job, but I always remind her to ask herself the following two questions:
1. How much money is left for the month after expenses?
2. If I spend on clothing, will I still have enough reserved for recreational activities I am interested in?
By asking these two questions Marisa is actually budgeting herself in a very simplified way. Rather than buying something on impulse, just because she has a coupon or saw something she liked in a magazine, she is being forced to look at the big picture. The big picture means she has to consider all the activities she has planned for that month. She must take into account whether or not she has enough spending money to cover all costs. If she needs money to pay for a planned activity, it may mean putting off the purchase of that special dress.
Since we have started the routine of checking the month's expenses from the very beginning of each month, I have noticed our trips to the mall have decreased considerably. Marisa still saves her coupons and plans what she would like to purchase but instead of rushing out to buy that special dress right away she stops to ask, "How much money do I have left for this month?" I'll suggest we take a look at her balance, and she may then very well say, "I can wait for another coupon. Let's skip the mall!"
I'm proud of the way Marisa has learned to realize her limits in spending. She loves fashion and will always enjoy shopping for that special outfit, but because she has not had the privilege of unlimited spending, she is beginning to learn the value of saving the money she has for each month. I anticipate that when Marisa does have her first real job, she will develop a true appreciation for her earnings. She will have no trouble budgeting, because she has already come a long way in learning to cover the cost of the things she needs, while still saving up for the things she wants. In essence, she has learned that the challenge of saving can be as rewarding if not more so than that so called special purchase.
Up till now Marisa has been living a fairly protected existence. She has learned to earn goal points that she can trade in for things she wants. However, entering the adult world means one has to be able to stretch what is earned in money to cover the cost of the things needed and hopefully still have something left over for special purchases. To help Marisa realize the importance of budgeting her money, we now sit down at the beginning of each month to go over the expenses she has each month. She then has an opportunity to consider how she would like to use her extra money. She may decide to use it or save up for several months toward something extra special.
Early each month we talk about the things that are necessary to pay for and then discuss the things she is interested in purchasing for that month. She may want a new dress for a special occasion or a new pair of pants for her job, but I always remind her to ask herself the following two questions:
1. How much money is left for the month after expenses?
2. If I spend on clothing, will I still have enough reserved for recreational activities I am interested in?
By asking these two questions Marisa is actually budgeting herself in a very simplified way. Rather than buying something on impulse, just because she has a coupon or saw something she liked in a magazine, she is being forced to look at the big picture. The big picture means she has to consider all the activities she has planned for that month. She must take into account whether or not she has enough spending money to cover all costs. If she needs money to pay for a planned activity, it may mean putting off the purchase of that special dress.
Since we have started the routine of checking the month's expenses from the very beginning of each month, I have noticed our trips to the mall have decreased considerably. Marisa still saves her coupons and plans what she would like to purchase but instead of rushing out to buy that special dress right away she stops to ask, "How much money do I have left for this month?" I'll suggest we take a look at her balance, and she may then very well say, "I can wait for another coupon. Let's skip the mall!"
I'm proud of the way Marisa has learned to realize her limits in spending. She loves fashion and will always enjoy shopping for that special outfit, but because she has not had the privilege of unlimited spending, she is beginning to learn the value of saving the money she has for each month. I anticipate that when Marisa does have her first real job, she will develop a true appreciation for her earnings. She will have no trouble budgeting, because she has already come a long way in learning to cover the cost of the things she needs, while still saving up for the things she wants. In essence, she has learned that the challenge of saving can be as rewarding if not more so than that so called special purchase.
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