Alf Priestley27 May 2012
When looking for ways to teach money principles to your children, why not start with talking to them about saving money through things they may already be doing? The most common example is taking their lunch to school rather than buying it.
People spend a lot of money buying their lunch every day, and I’m not referring to eating out for lunch at restaurants either. I’m talking about buying a sandwich or something quick and easy from the corner store or take-away shop.
Every year the prices are increasing (as with everything else) and last time I checked (which wasn’t very long ago), it seems impossible to get a decent sandwich for under $7 at any of the big chains. That doesn’t include anything else like a cookie and a bottle of water either. If you add these in, you’re looking at least at another $5. That’s $12 or more a day or $60 a week (assuming a 5 day working week).
What if you had a coffee or a soft drink habit? These will certainly cost you extra!
When you put these figures into perspective, ask yourself the question “Would you rather spend this money on other things that are more important besides take out food?”
Maybe now is the time to consider bringing your own sandwich from home (or whatever you fancy). You’ll know exactly what’s in it and it will be much, much cheaper. In fact, assuming you are spending $12 per day, that’s actually $2,880* a year just on eating at work!!!!
Looking for more ideas and educational material to teach your kids about money? Visit moneysmart.gov.au for more information.