Blogging Away Debt

Who Got Savvy With the Carnival of Personal Finance?

Why, Savvy Saver, of course!

I know…corny joke 🙂

Anyways, even though Blogger ate her first post with the entries for the Carnival of Personal Finance, she managed to put it all together for our reading enjoyment.

I always enjoy the posts that make me think a little, and I found one at Money and Values that asked, Save for Tomorrow or Live for Today?

Right now I am so focused on reducing debt that it scares me sometimes. I worry that with paying so much off and cutting so many corners that maybe we aren’t living for today. That’s where my husband comes in and keeps me in check so I am thankful for that.

But I know when the debt is gone, I want to start saving. If we put into savings what we are now putting into paying our debt – we would have a substantial amount for retirement. But do we want to keep a little bit back so we can live a little now instead of waiting for the future? Then, if you ask that question you need to ask how much you need to live a little now? Is it really the money that helps you live for today?

See what I mean – it makes you think. 🙂

My Son Has Learned the “B” Word

by Tricia

My son’s mind is soaking up so much information that the “why” questions run one after the other. Some, of course, I can’t answer. But, we’ve set aside some time right before bed where he can unload all of his questions on me and I’d do my best to satisfy his curious mind.

The other night we talked about bats. I asked him what he would like to talk about next and he couldn’t think of anything. So I snuck in there, “Why don’t we talk about another word that starts with the letter “B”?” His eyes widened. “We’ll talk about banks.”

“Yeah, yeah, yeah,” he said.

Good. He was excited. I asked him what he knew about banks. He said that you get money and suckers from them (our bank gives suckers to the kiddies).

I was a little nervous, because this was the first time I’ve really discussed this concept with my son. I approached it gradually. “You can also take money to the bank and they hold it for you. They put it in a big safe.”

Oh, he loved the idea of a safe. He said, “Me lockÂ up my money at the bank so no bad guys can get it.”

I continued on. “And when you put your money in the bank, you can make money by doing that.” (it is so very hard to try to put everything in words that a four-year old would understand).

“You make money?” he asked.

“Yes, you make money. It’s called interest.”

He repeated what I had said, like he was explaining to me what banks were and he seemed to understand.

The next day, I prompted him to tell Daddy what he learned about banks. He said, “Me put my money in bank and they lock it in a safe so no bad guys get it.”

“Anything else?” I asked.

“Mmmm…no” he replied.

He did forget the whole part about interest and making money by saving money. But that’s okay. The door has been opened and we have many more bedtimes to discuss 🙂