A Lesson About Debt
[the scene]
Single Ma and BabyGirl are riding in the car.
The two are returning home from a fun-filled weekend.
The entire trip is several hours long and they have approximately 1.5 more to go.
Single Ma uses the ‘togetherness’ as an opportunity to talk about…what else? Money!
[the audio picks up on the conversation]
Single Ma: Now that you have your first paycheck, you know you owe me $25 right?
BabyGirl: *with a look of fear*
For what!?!
SM: *laughing at her for being all indignant*
Because I bought you a Smart Trip card and the shoes you needed for work.
BG: But I thought you were doing that to be nice?
SM: *makes mental note to clarify any future advances as “loans”*
Oh no, no honey. You said you needed them, so I bought them for you because I knew you didn’t have any money yet. And since when have you ever known me to be nice?
BG: *laughing because she thinks SM is joking around*
But maaaaaaaa, you said you wouldn’t take me to work unless the weather is bad or it’s dark, so I have to take the bus. And none of the black shoes I had fit the dress code at work.
SM: Yes, I know that dear. I’m not saying you didn’t need those things, but they are work related. You wanted this job, so you must pay for your own work related expenses – *pause for effect* – which just so happen to include transportation and appropriate work attire.
BG: *crosses arms to pout*
Well you shouldn’t have bought them then!
SM: *gives BG the side eye in the passenger seat*
Why not? Would you have walked to work?
BG: No, but I don’t like being in debt!
SM: *thinking*
HA HA that response was worth more than $25. It was friggin’ priceless! She feels uncomfortable knowing that she owes me (or anyone) money before receiving her paycheck. In addition, she also realizes that paying it back will reduce the amount of money she thought she would have at her discretion to spend. And now she’s mad. LOL Good!
Fabulous Financial Message: It’s a horrible feeling to be in debt, and justifiably so. To have someone else calling dibs on your hard earned money before you even receive it. Whatever benefit you received as a result of using someone else’s money is probably trivial to you now. But you can’t deny that you DID, in fact, receive a benefit. So by the time you distribute what you owe to everyone who has their hands out (e.g. Visa, MasterCard, auto finance company, retail finance company, Sallie Mae, or in BabyGirl’s case – Mom), you are left with only a few measly bucks after two weeks of hard work. No fair! I’m sure many of you can relate and none of you like it, but unfortunately, that’s the rule of the debt game.
And guess what?
She’s mad, but I don’t care. I’m going to make her pay me anyway.
Yesiree, I am!
Oooh, and it might even delay her ability to do what she really had her heart set on.
*shrug* C’est La Vie
But I won’t tell her that it’s going straight into her savings account. LOL
*checks the box on lesson #1*
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That’s awesome and the story was told in a way that only SingleMa can tell it. When I have kids, I am emailing SingleMa for parenting advice.
That was a good one SM! Definitely made me pause a bit too. But I’m glad that she’s learning this lesson early on. Have you ever thought of doing a seminar for teens with this same message? The earlier we learn to have an aversion for debt, the better (IMHO).
I’m trying to get a volunteer gig now, just waiting on the people to call me back. Not sure if it’ll be teens or adults though. [-SM]
Great one, SM! I only wish my mom had the same sense as you do. Unfortunately, she financially enabled my sister right into bankruptcy.
Oooh I loves it!!! That was a really good one. Like Millionaire Mommy, I wish my mom or my dad had done the same.
That’s a great story. I see a (multi)millionaire in the making.
Great stuff.
Told in Single Ma fashion…like only she can!
If you do get that gig in educating teenagers about money, email me please. I have a 13 year old son I would like him to get off on the right foot.
Love this! I have a 3 year boy and I am single and when he grows up I know I need to remember this lesson! :)