Raising Kids with Frugal Living

Raising your kids with frugal living is one of the best gifts that you can give. Less stuff tends to make kids appreciate what they have.

Boy thinking about money
Raising your kids with frugal living is one of the best gifts that you can give. Less stuff tends to make kids appreciate what they have. #frugalliving #moneymanagementforkids #frugallivingtips

Raising Kids with Frugal Living

Many kids today are raised in homes filled with fancy gadgets, leased cars, rented homes and parents in debt. This lifestyle may not lead to strong financial lessons as they become adults.

As parents, we want the best for our kids. It’s not just about giving them the best toys that money can buy. It’s actually teaching them how to manage their money from an early age, in hopes that they’ll grow into fiscally responsible adults. 

Studies show that parents who are in huge financial debts can impact their kids overall well-being. In fact, these children are estimated to be five times more likely to be unhappy than kids raised in families without debt troubles. 

So, are you ready to give one of the most important life-lessons to your children? Make sure to read through these five effective ways to raise kids with frugal living.

5 Effective Tips to Raise Frugal Kids

It’s not about how much money you make, it’s about how it’s spent. Frugal kids will make better choices and learn how to become successful adults. Follow these 5 Effective tips:

  1. Set an example of frugal living.
  2. Teach them what’s important to your family.
  3. Take your kids to the grocery store to teach frugal living.
  4. Let them manage their own money.
  5. Opt for second hand stuff.

Set an example of Frugal Living

If parents are not good money managers themselves, how can they teach their kids to be better? Kids learn by example. They’re always watching you and learning from your ways. That means whatever they see you do, it’s what they will follow. 

Are you ready to mentor your kids about good money management? Start with having a healthy financial conversation with your kids. Include topics such as paying all your debts, setting the household budget, and making sure your bills are paid on time. Being consistent and honest goes a long way in mentoring and conversations that will last a lifetime. 

Teach them what’s important to your family 

A larger house doesn’t always equal with happy home. I was raised in a house with small floor space. My parents were wise enough to see that the house is not actually an asset but rather a liability. 

Instead of putting their hard earned money into renovations and beautifications, they choose to take the whole family on vacations yearly. The trips became a fun, yearly tradition, where we would take all year to raise the money in exchange for a week on vacation. 

The mentality of experiences over things was passed on to me and my siblings. Now, each year, we travel all together with each of our families. The time spent, the laughters, stories, and memories are very important to us. Travel has made a difference in our values and the family relationships we have cultivated ever since. 

Take your kids to the grocery store to Teach Frugal Living

Taking your kids to the grocery can be a drag. It’s way too easy to do grocery shopping without them. As parents, we understand that. If you don’t bring them though, how will they learn how much the food costs, how to budget, what are the cheaper alternatives, and any tips or tricks you may have picked up from your parents? 

Let them see how you make use of online coupons from weekly ads. You can also let them choose or plan the meals so they’ll feel they have an important role to play. Let them push the mini carts, just keep them away from your ankles!

Some kids actually learn to love and appreciate this. Start by showing them pictures so they know what to look for and send them to the produce aisles to find bananas, apples, and more. It’s interactive and it gives your kids an opportunity to be involved. 

Let them manage their own money 

Let your kids experience the joy of spending, saving, giving away through donations or tithing, and even investing every little amount of their own money. The trial and error process will help them value every penny they receive. 

True enough, as adults we learn to manage our finances through trial and error. Why not teach your kids early on. The earlier they start, the better their future would be. Giving them the chance to give to church, charity, invest, and more will also let them lead purpose-driven lives. 

The key here is to let them learn through their mistakes and wins. Be at their side to cheer them up or comfort them as the situation arises. Managing their finances will help them become frugal with their living as they know how it feels to suffer the consequences of their actions through mistakes. 

Opt for second hand stuff

When my first child was born, I didn’t buy brand-new clothes for them, except for their underwear. Now, that I have my second child I have realized this to be a wise financial decision. To tell you the truth, my eldest still wears hand-me-down clothes from other people. She’s four now. 

I still go to yard sales and thrift stores regularly every chance I get. Gently used clothes can be washed and oftentimes come out nearly as good as brand new. I’m glad that my four-year-old daughter still feels excited every time I bring her the clothes I bought, even if it’s missing the price tag. 

Let me tell you a little secret. When buying used clothes, make sure to go for quality. No one actually cares as long as it’s in good quality. And the best thing of all, your kids are dressed well at a fraction of the cost. Used clothes can be found online through social media such as Facebook or Instagram, or even ebay. The key is to find people with good reviews and similar clothing styles to your preferences. 

A Christmas Bonus 

Here’s something for the holiday season: apply the Rule Of Four this Christmas. Limit the Christmas gifts you give them to four items. An easy to remember way to implement this Rule of Four is “something they want, something they need, something they wear, and something to read.  

Consider what you give your kids. While most parents want to pile up Christmas gifts under their Christmas tree, be mindful about what’s best for your kids. Fewer items are less overwhelming and buying gifts they actually want and need will be far better appreciated. 

Frugal Living conclusion

By following these steps, you’re teaching your kids what’s really important in life. It’s not just about the amount of money they receive, but how they manage it, that makes the big difference. The most important of all, this will help them build character and make them better adults. 

*Posts may contain affiliate links. If you purchase a product through an affiliate link your cost will be the same, but My Mommy Style will receive a small commission. Your support is greatly appreciated!

My Mommy Style would like to thank our contributor Brett for writing this article. Brett is a writer at ID-MAG. An enthusiast and expert when it comes to sleep products, Brett dedicates a lot of his time reading, researching, and reviewing about both traditional and emerging sleep brands that manufacture varied types of sleep products – from eco-mattresses, smart pillows to cooling sleep systems, Brett has probably reviewed them all. Brett also finds sleep especially important since he juggles a small business which he runs from home, makes sure he spends time with his daughter and he also writes during his spare time – you can definitely see that he needs a great forty winks all night, every night so he’ll make sure that you get great sleep, too!

*Posts may contain affiliate links. If you purchase a product through an affiliate link your cost will be the same, but My Mommy Style will receive a small commission. Your support is greatly appreciated!

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MyMommyStyle Meet Camille

Hello! I am Camille, a wife, mother of four, Disney obsessed, certified teacher, and reality optimist. Motherhood comes with its ups and downs, and I hope while you're here you'll find something that makes your #momlife easier!


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