Our relationship with money, how we treat it, spend it, save it and teach our children about it is very personal.

Money culture can skip a generation, bankrupt a family business by the 3rd generation, break up marriages and spoil children to the point of what I call ‘pleasure numbness’.

My youngest daughter has had a goal to go to camp for 5 weeks this summer. Last September I told her I would pay for two of the weeks as I always have and she could cover the three additional.

Her eyes popped out of her head.

It is a lot of money, especially for a then 15 year old.

She had a little money in her account from academic prizes and presents but she had a considerable way to go.

We discussed clever ideas and I supported her in the pursuit but not the execution of them.

She has met the budget for the additional weeks and from that she has learned a very valuable lesson.

If she wants something she has everything she needs to get  it.

Just the other day she said so excitedly that ” I saw something I wanted and I now know I can have that”

It has made me think about what kind of a parent I would be if I had all the money in the world- if I could give them everything, would I? Or would I still be restrained knowing that less is often more?

It would be fun to find out.

Money is a slave and not a master. Take a look at what I mean by this