The Daily Meaning

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Archive
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Parenting, Impact Travis Shelton Parenting, Impact Travis Shelton

When the Legs Go Numb

I don’t believe in allowances. From a behavioral science perspective, allowances teach kids they are entitled to something. That’s not how the world works, though. Earning money requires work. Hard work. Sometimes undesirable work. 

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Parenting, Meaning, Travel Travis Shelton Parenting, Meaning, Travel Travis Shelton

The Memory Paradox

There's a paradox with memories, though. Memories don't actually cost anything. Spending money isn't a prerequisite for creating memories. Now, if you want to create memories at an amusement park or concert, then yes, it will cost something. But spending money isn't what makes a memory.

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Parenting, Growth Travis Shelton Parenting, Growth Travis Shelton

Closing the Loop

This is where so many of us whiff. Whether it's ourselves or in our parenting, we don't close loops with finances. We take shortcuts, stop short of fully completing goals, and inadvertently rob ourselves (and our kids) of the tangibility.

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Growth, Parenting Travis Shelton Growth, Parenting Travis Shelton

Encountering the Fork

This is a test, a turning point, a fork in the road. If he ultimately chooses to walk away from something because it's difficult, that could easily become his mode of operation. If something gets hard, quit. If the next thing gets hard, quit.

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Meaning, Parenting, Career Travis Shelton Meaning, Parenting, Career Travis Shelton

Why Must You Taunt Me, Apple?

As I attempted to write today's post, my phone oddly and repeatedly reminded me of past photos. Hey look, Travis, it's a cute picture of Pax eating ice cream when he was 3! Travis, check out this handsome little 2-year-old Finny riding a boat. It was almost as if Apple and Father Time were teaming up to taunt me.

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Parenting, Debt Travis Shelton Parenting, Debt Travis Shelton

No Paybacks

On a recent trip to KC, Sarah and the boys visited the Truman Library. Pax wanted to purchase a souvenir, but he didn't have his money with him. Sarah, knowing he had at least that much money in his wallet at home, agreed to buy it for him and we would take the money out of his wallet when they returned home (i.e. pay it back). That's what happened, buyer’s remorse set in, and that's what ultimately led to the meltdown.

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Generosity, Parenting Travis Shelton Generosity, Parenting Travis Shelton

Period.

As we were on our way to the science center yesterday, my family enjoyed a quick lunch at a downtown patio. Toward the end of our meal, a young woman approached us, looking distressed. "I'm sorry, and I'm really embarrassed to even ask, but I could really use some help. Do you have a few dollars you could give me?”

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Generosity, Parenting Travis Shelton Generosity, Parenting Travis Shelton

I Won't Be Stealing His Blessing

As he divided up the money into three components (spending, saving, and giving), he turned to me and said, "Dad, I'm going to use my giving money to buy you a new battery so you can fix your watch." I've been wearing a broken watch for a few months now. I have other watches, but this one is my favorite. Unfortunately, though, the battery died. So, at this point, it's for aesthetics only.

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Spending, Parenting, Growth Travis Shelton Spending, Parenting, Growth Travis Shelton

Remorse is Setting In

As they each opened their wallets to deposit their spending cash, they were welcomed to an empty cavern where money used to live. They were immediately upset at the idea of having no spending money (except for the cash they just earned). Sarah reminded them that they spent all their money on the 4th of July. I could see disappointment and buyer's remorse take over their expressions.

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Parenting Travis Shelton Parenting Travis Shelton

Cultivating the Next Generation of Stewards

One of the main questions I get asked about is how to teach kids about money. Most parents don't actually teach kids about money, and the ones who do typically do so in the most toxic of ways. I don't usually say anything when I see terrible teaching play out because, well, they didn't ask for my opinion. But since I have a platform, today I'll be sharing the way I recommend teaching it. First, I'll share a few key principles that I believe are essential:

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Parenting, Spending Travis Shelton Parenting, Spending Travis Shelton

Suffer Now or Suffer (More) Later

Can we be honest? It's hard to watch our kids learn hard lessons. To watch them suffer, hurt, and face the consequences of their actions. We love our kids, and our instinct is to protect them from pain. With that said, we have two options: watch them suffer when they are young (when we're there to help them navigate and grow), or watch them suffer in adulthood (when the stakes are higher, the consequences steeper, and we're not there to save them).

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