I’m sure for most people when they were a child we didn’t think much about birthdays financially as we just want o have fun and be showered with gifts. Parents on the other hand need to budget for it as you don’t want to starve for the rest of the month over a party. But why this got me to think today was how in attending a birthday party the child was at an age where he understood that things cost money but he didn’t seem to care at all. There was one point where the people he incited asked if they were going to play laser tag and the child said they were even though the parents did not budget for that. Each kid would probably cost over $20 or so which would be a dent in the bank.
I was already sensitive as to how much my parents spent even at that same age because my parents would asks me as I got older what restaurant I would like to go to as an example or that if it was some kind of event I could only choose say one since they cost money. That actually gave me the experience of budgeting and shopping knowing that there is a limit. I remember there were even times I would suggest we spend a little less on fancy food such as going to a basic restaurant and using that extra money to watch a show.
The more I think about it this is a great way to teach a child some financial literacy skill. Eight years old was about the age I started to get asked more on what I wanted to do for my birthdays while being able to semi manage the best value for what my parents was willing to spend.