How does a parent teach their child the importance of budgeting? It's an essential skill to have as an adult, but a complicated thing to explain to a kid who has only ever handled Monopoly bills…
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Budgeting isn't something that comes naturally. This skill is something you need to be taught, whether you teach yourself or have someone teach you, it is important to know how to budget as an adult. As a parent, when do you start teaching a kid, who has no idea what money even is, how to budget and financially plan? The teen years? Or maybe once they go to college? What if they simply don't understand because you are always there to help them out in a pinch? At what point do you have to let your grown kid suffer financially so they can learn to budget?
This mom is in that exact pickle. Her daughter has racked up $3,000 in debt and came to mom demanding her help bailing her out. When the mother asked how she got so far into debt, she was blown away. After everything she taught her daughter about being frugal and budgeting, her daughter had wasted her money on unessential items, when she knew she could not afford to live that way.
The mother obviously refused to bail her out, but offered to help her create a budget and the grown daughter got upset. What would you do? See the entire story and others' responses below.
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