Embarking on a no-spend month can be an eye-opening experience for the whole family, but it’s not without its challenges—especially when it comes to getting kids on board. I’m lucky that my children are older so cries of “But I want that toy!” don’t happen like they used to, nor do the pleas for a trip to the ice cream shop(at least from the kids, me on the other hand….) My point is that children may have a variety of objections to a no-spend month. So I figured it may be beneficial to explore some common objections children may have and offer strategies for addressing them, regardless of how old your (inner) children are 🙂
- “But I Want _____!” One of the most common objections we may have to a no-spend month is the desire for a new thing. It doesn’t really matter what the “thing” is– the latest action figure, video game, skincare, trendy accessory/clothing, whatever — kids and adults alike are drawn to the allure of shiny new things. To address this objection, consider the following strategies:
- Encourage Delayed Gratification: Teach the value of saving up for things they want by encouraging delayed gratification. Instead of buying the item right away, set aside a portion of your paycheck (or their allowance) each week to save up for it.
- Explore Alternatives: Find alternative ways to satisfy the desire for new items without spending money. Suggestions could include borrowing from friends/family, a swap meet or exchange event, or getting creative with materials you already have at home!
- “But All My Friends Are Doing It!” Peer pressure can be a powerful force, especially when it comes to spending money. We may feel pressure to keep up with our friends’ spending habits or participate in costly activities to fit in. To address this objection, consider the following strategies:
- Teach Financial Literacy: Take this opportunity to educate yourself and your children about the importance of making smart financial choices and living within your means. Cultivate an understanding that everyone’s financial situation is different, and it’s okay to say no to things you can’t afford.
- Foster Individuality: Embrace your unique interests and hobbies, regardless of what your friends are doing. March to the beat of your own drum and make decisions that align with your values and priorities. Quit trying to keep up with the neighbors!
- Find an alternative: Spending time with friends/family does not have to equate to spending money. Find alternative options that let you spend time together without spending money. Ideas could include hosting a game or movie night at your house or going to the park!
- “But I’m Bored!” A leading objection to a no-spend month is the fear of boredom. Without the ability to spend money on entertainment or activities, we may worry that we’ll have nothing to do. To address this objection, consider the following strategies:
- Get Creative with Free Activities: Brainstorm a list of free or low-cost activities and entertainment options that your children can enjoy during the no-spend month. From outdoor adventures to arts and crafts projects to family game nights, there are plenty of ways to have fun without spending a dime. Check out my earlier blog post for a full list of ideas!
- Emphasize Quality Time: Use the no-spend month as an opportunity to spend quality time together as a family. Plan special outings, movie nights, or game days that everyone can look forward to and enjoy together. Remind your children that it’s not about how much money you spend, but the memories you create together.
- “But I Want to Help!” On the flip side, some children may object to a no-spend month because they want to help contribute to the family’s financial goals. They may feel frustrated or left out if they’re unable to contribute financially. To address this objection, consider the following strategies:
- Empower Your Children: Acknowledge and validate your children’s desire to help contribute to the family’s financial goals. Encourage them to brainstorm ideas for ways they can contribute in non-monetary ways, such as helping with household chores, cooking meals, or finding ways to save money.
- Foster a Sense of Ownership: Involve your children in the decision-making process and make them feel like active participants in the family’s financial journey. Encourage open communication and collaboration, and celebrate their contributions and achievements along the way.
Conclusion: Navigating objections during a no-spend month can be challenging, but with patience, empathy, and creativity, you can address their concerns and help them understand the value of living within their means. By teaching financial literacy, fostering individuality, getting creative with free activities, and empowering yourself and your children to contribute in meaningful ways, you can turn the no-spend month into a positive and empowering experience for the whole family. So don’t be discouraged by objections—embrace them as opportunities for growth, learning, and connection.
