Don't go Broke on Spring Break

Spring break season is here!

If you’re heading on a trip with the family, and you’re already dreading the credit card bill that will show up in your inbox after your trip, you’re not alone.

If you want to avoid that “Oh crap!” feeling, you’ve got to have a budget.

The good news is, if you have kids - especially elementary school-aged ones - this is a golden opportunity to introduce the basics of budgeting!

I recently had a really fun conversation with a client about introducing budgeting to kids.

He’s taking three kids to Florida. I suggested he give each kid $10 and explain it’s for snacks at the airport, and they’re each in charge of their own money.

They can pack a granola bar from home and save the money, they can spend it all on a king-size bag of Cheetos, they can spend some and save some…it’s their choice.

He said, "That might work, but one of my daughters will just buy whatever Squishmallow she can afford... and then she’ll be asking me for more money for a snack."

And that’s totally normal! Here are three important tips to handle this situation:

Explain the ground rules to the kids beforehand. Give them an opportunity to ask questions and brainstorm situations so you can set expectations for what is going to happen. They will try to come up with some creative workarounds, I assure you.
Plan to have a safety net (maybe you bring a bag of trail mix in your carry on, so she doesn’t starve) but not a bailout (no caving and giving more money). If you have other kids, don’t pressure them to share if they don’t want to.
Expect a few meltdowns and normalize the frustration. It doesn’t feel good when we see someone else with something we want. It doesn’t feel good when we buy something and regret it later. It doesn’t feel good to realize we have to wait when we want it now. These are normal emotions to let them feel, and help them through. That’s life, baby!

If you have the chance, give it a try. I'd love to hear about how it works for you!

Safe travels!