Why Didn't I Think of That?

I just read the following portion of an article on "Extreme Penny Pinchers".

Most of the folks quoted in that article probably could have used a little injection of common sense, but the following family is teaching their kids a thing or two about good, old-fashioned financial cents*. And, along the way, there are some built-in lessons that are side benefits of this little experiment.

I, for one, LOVE IT.

+++++++++++++++++++++++++++++++++++++++++++++++++++++++
I Make My Kids Pay for Dinner

Name: John Snyder
Hometown: Boyne City, Mich.

On a recent family vacation, my wife and I decided that -- after the first night of eating out -- the rest of the nights each kid would pay half the bill.

The child whose turn it was to pay would also be able to choose the restaurant. So after a tab of $73 the first night (for a family of five), we moved on to Chick-fil-A the next night ($26 total), and pizza the night after that ($32, after using the coupon that my daughter found).

It was funny watching the kids act out, and say to each other, "You guys can share!" or "No, you're getting water!" -- the things I'm usually thinking while biting my tongue.

As parents you always hate to be the ogre saying: "You don't need that." So you just sit there and spend your money, but this made them do it themselves and it was fun for them, because it turned into kind of a game -- with all of them looking for coupons and special deals when it was their turn to pay.

Because of these discounts and how much pressure the kids put on each other to save money, we potentially saved at least $50 a night. A couple of our younger kids had to take out a loan from us for some of the dinners, but they'll be paying that back.

We'll continue doing this on vacations. We're going to a wedding in Wisconsin in July, and my five-year old got off free on the last vacation, so he probably owes us one.

++++++++++++++++++++++++++++++++++++++++++++

I know some people will read this and think "Gosh. Those parents are EXTREME." But, I read this and thought "Holy cow! These people are BRILLIANT!!"

Way ahead of the time they are going to have to parent, these kids are learning the value of thinking through and acting on the impulse to go full-out at restaurants by ordering every extra offered. They aren't getting the souvenier glasses or the five-serving desserts or up-sizing. This is not only a lesson in spending but also a lesson in portion control and restraint.

The kids are learning that it isn't cheap to raise progeny. Eating out gets expensive fast, especially on vacation when parents are tired and out of their routine and quasi-relaxed and not in the mood to deal with the whining and "PLEASE!?!?!" and begging that most kids manage to master at age three. Looks like the kids in the story learned the value of old-fashioned water vs. soda pretty quickly to me. Not to mention the dreaded couponing.

They are also being taught a lesson in sharing. Since each child is responsible for a night out on the town, no one can argue or fuss or fight about where the family is going. That takes stress off Mom and Dad! Big, fat, over-the-top bonus.

I LOVE this idea. We are planning a trip in a couple of weeks and I think I am going to use the concept on the kids. I'm sure, if nothing else, it will turn into a hysterical blog post in the future.

Happy CHEAPER Vacationing!


*Get it??? Punny, huh?