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One Frugal Girl had a great post the other day. She asked “What is your first money memory?” I tried to reply in her comments, but I guess blogger was having issues because it wouldn’t let me. Check out her story; it’s eye-opening.

I can’t say for certain what my first money memory was, but several stand out for me. One was my great-grandpa giving me a crisp new $2 bill when I was about 8 years old. Another was my grandpa asking the question that probably every young preschooler gets asked: which would you rather have, a penny or a dime? Of course, having no concept of money, I responded with the penny because it was bigger. I think it was shinier too. He then sat down and explained the value of the various coins & bills to me. Finally, and this is probably the thing that had the biggest effect long-term, there’s my dad. If I was in a store with him and saw something I wanted, I’d ask for it, and his response was almost always the same. First he would ask “Do you have any money?”, and then when I would say no, he’d say “You better start saving then”.

I think that response is great for several reasons. One, you’re not telling your kid no, but rather explaining what’s necessary for them to get what they want. Two, you’re encouraging savings and delayed gratification. Three, you’re not filling the house up with toys that will be quickly abandoned or filling their bellies with junk food. At first when he would say that, I’d think to myself that he was mean, that mom would have bought it for me. Then I came to the conclusion that there wasn’t much point in asking dad for things. (Even though on very rare occasions he would buy me the item.) But finally the real message sunk in: that I COULD get what I wanted if I saved up for it. I just had to prioritize what I really wanted and plan accordingly. Things were achievable if they were important to me and I did the work. It was actually pretty empowering once I figured things out.