Recently I lost 2 jobs and our business is not doing well. This is the year, I would consider, in my 7 years of marriage, would be the hardest of them all.Prior to this, we have been living well enough. We managed to buy 2 cars and rent a fairly decent house. We sent our only child to the best (and expensive, I would say) private school in the area because we never imagined that this day would come so, you could imagine how it felt to be jobless and uncertain of things to come.

To avoid further depression, I quickly inventoried our savings and plan a doable action in 3, 6 and 12 months timetable. I enrolled myself to a training program that will enhance my resume in future job hunting and I searched for part time jobs that I can do at home while studying. My husband merged with his father in a proposed business that will hopefully effect early next year.

The hardest part in this situation is the explaining that I got to do to my daughter. I had to admit, she has no idea where money is coming from, and she just gets it from us. I didn’t train her to be tight with money and I know it is my fault for not teaching her the value of it. Now, we are making baby steps in instilling her to be mindful of her spending.


The Basic Steps of Monetary Responsibility

1. Teach your kids about the value of money. Let them know that It is limited and only spend on necessary items.
2. Make your kids work for the money. Show them that when they want something they have to work for it. This will show how hard work can be rewarded with monetary value.
3. Teach your kids how to be responsible with money.  Show them that money is required to set aside for car insurance, telephone bill, or even a gym membership.

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