Letters To Our Daughters (October)

Dear Daughter,

The past couple of weeks have been very stressful in our house and we have not sheltered you from the stress. You have heard all about how Dad has to continue to work without knowing when he will be paid. You have also heard us talk about how we have savings to see us through until the government reopens. All of this talk about money may seem obsessive and I know that you do not like hearing about “the budget”! I want you to know how important I believe it is for you to learn about managing your money. Several years ago dad and I attended the Dave Ramsey Financial Peace classes at church. At the time I wasn’t very excited about going. We did not have what I considered huge amounts of debt. We had our house, a car payment, and we paid our credit cards off every month. Well, my eye’s were opened to the fact that we had no cash savings and we had no clue where all of our money was being spent. Our household income at that time was more then triple what it was when dad and I got married yet we did not have anything to show for it. If today was five years ago, we would be in a completely different situation and I am not sure we would know how we would pay our monthly bills without dads paycheck.

My point in all of this is for you to realize at a young age that it is important to have a back up plan. It is very easy and fun to go buy the latest and greatest things at the mall, or to go out to eat with friends. However, it is not very easy to have a car repaired, buy books for college classes, or pay medical bills if you don’t have money saved for it.

I also believe that there is a balance that must be met and you must reward yourself for a job well done. I know several people who save, save, save and yet they feel guilty when they spend. So, I am here to say pay yourself (savings), pay your bills (gas for your car etc.), give to others (church, or other charities) and then enjoy life!

I can not wait for all of this stress to be behind us so we can enjoy our vacation. I know that next summer is a long way away, but the beach will be there waiting for us!

Love,
Mom

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