Podcast Episode 158: Can You Still Parent Your Kids Well Without Having Much Money?

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In The Loop with Andy Andrews, hosted by David Loy

Click here to download the transcript of this episode.

 

On this week’s episode, I discuss money and the influence it should have on your parenting style.

 

How does the amount of money you have (or don’t have) affect your parenting style?

  • Obviously both can create issues and both have to do with the thinking of the parents.
  • If you have more money, there are more places you can go or vacation, but that stuff isn’t necessary under the umbrella of “parenting.”
  • Our goal is to raise kids who become great adults.
  • I’ve seen situations where having a lot of money created more problems with kids than situations where money was scarce.

 

Austin just turned 15, and he was aware at 10 years old that he would be buying his own car.

  • I’ve talked with him a lot about why it is important for him.
  • He understands that we are after him having an awesome adult life.

 

For a child to become a great adult, it’s easier to reach your potential if you have the confidence that you are capable of doing things yourself.

  • That will give you some pride (not in the egocentric  way).
  • And generally, if you buy a car yourself, you take better care of it.

 

As far as parenting, I really believe that our quality time, and even our gifts, do NOT have to be about having money.

  • I urge you to find something that your kids love to do, that you can not only do with them, but it’s also something that causes you to
  • If you can somehow get them interested in the woods and the water, that will bring a lot of opportunities to sit.
  • It teaches us to be patient and that we don’t always catch something, but we can always have an awesome time. Catching something is just a bonus.
  • The last thing about this is you want to have time with your children that they can sit and think of questions to ask you and you can sit and think about your answers. That doesn’t come in any other setting.

 

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