by Hope
It’s certainly been a while since I posted a picture of the twins together. And as we prepare for Sea Cadet’s imminent departure at the end of July, I am cherishing every moment I have with them!
But what is even better is watching them grow in maturity in their relationships with others and with their money! And one lesson that has definitely stuck is that choose your priorities when it comes to spending your liquid cash. (They both live on a weekly cash budget for gas and spending money.)
And one thing that neither of them likes to spend money on is haircuts…especially when I will cut their hair for free. And no, I do not have formal training as a barber. Thank goodness, neither of them is picky.
And if you ever wondered if they were really identical twins, the pictures above with their fresh haircuts should prove it.
While we started out with a pretty complicated budget, it was just too much. So now we have settled onto a set amount of cash for their pockets every week out of the money they earn. This money is their spending money and gas money. They must stay within that amount.
All other monies are put into a shared Savings account. They pay their car insurance and cell phone bills out of that money. And we discuss any other purchases where they want to dip into this savings account.
This has really worked for them. And they both enjoy watching their savings account grow AND having money on hand when they want to spend money outside the norm. While I do not have a veto on their spending, I am able to guide them through the thinking process before it actually happens.
Feeling good about the future for my kids and their money. While it’s not perfect, we definitely seem to be moving in the right direction.
Hope is a resourceful and solutions-driven business manager who has spent nearly two decades helping clients streamline their operations and grow their businesses through project management, digital marketing, and tech expertise. Recently transitioning from her role as a single mom of five foster/adoptive children to an empty nester, Hope is navigating the emotional and practical challenges of redefining her life while maintaining her determination to regain financial control and eliminate debt.
Living in a cozy small town in northeast Georgia with her three dogs, Hope cherishes the serenity of the mountains over the bustle of the beach. Though her kids are now finding their footing in the world—pursuing education, careers, and independence—she remains deeply committed to supporting them in this next chapter, even as she faces the bittersweet tug of letting go.
Since joining the Blogging Away Debt community in 2015, Hope has candidly shared her journey of financial ups and downs. Now, with a renewed focus and a clear path ahead, she’s ready to tackle her finances with the same passion and perseverance that she’s brought to her life and career. Through her writing, she continues to inspire others to confront their own financial challenges and strive for a brighter future.
My adult children at home pay $250 each payday in “rent”. That money goes into a bank account for them. My older two used it to buy their first cars. I also encourage you to have the adult kids shop for their grocery night. My kids are required to grocery shop weekly and spend at least $25 on food \ drinks. I like to think my two older kids know how to shop and meal prep because mom made sure they understood how to shop and prepare a meal.