Premiering in August through MillionStories.com, Milk Money gets real with millennial families raising kids in today’s economy. The series explores the true price of parenthood and dives deeper on family finances. With a diverse group of families, Milk Money profiles the lives of single parents, new parents and many more!
Watch the trailer for Milk Money HERE!
Upcoming episodes include:
- A single dad and his strong bond with his son from Inglewood, CA.
- A family of four with one more on the way prepares for a military deployment from San Diego, CA.
- A single mom returning home to the Navajo Nation.
- A family of four struggling to find affordable childcare from Van Nuys, CA.
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| Piggy bank painting time! |
Growing up as a child, my parents never really talked to us about money, savings or bills. I knew we lived more on the strapped side as a family of 6 and I will never in my life think about powered milk again without mentally/physically gagging. That being said, I observed as I got older my father used an envelope system to put cash in for expenses, i.e. groceries, utilities, credit cards, etc. and I seem to have picked up on that practice, but have combined it with my husband's love for technology which means a detailed spreadsheet with columns accounting for the money in our savings and what it is designated for (tuition, date night, Germany 2021 fund, car repairs, new car, new house and more).
Our daughter Rose "graduated" this past June of 2020....."Quarantine graduation" and she will turn 18 in November which means she is starting community college (much more affordable and where her parents met 25 years ago) soon.
That being said, Rose must have picked up on hearing us talk over the years because with her new part-time job, she told us she wanted to keep 25% out for "mad" money and 75% of the rest of her earnings go in her savings account towards future tuition! A little background...we opened Rose's savings account when she was around 6 months old due to a bank promotion locally that gave "minor" accounts an extra monetary gift upon opening and she had already begun to receive money as gifts upon her dedication ceremony as a baby (so make sure to check around your area to see if there are similar incentives). I know a lot of families use a method of 3 jars for the younger kiddos - saving, spending and giving. This is not something we did with Rose as early on we knew she established her giving nature by having her birthday party and asking everyone to bring gifts for all ages to donate to our local Toys for Tots and this went on for almost a decade until she grew out of birthday gatherings (she still has a charitable heart).
Given the current pandemic situation (I lost my full-time job just months prior to the shutdown in Michigan), there are uncertainties ahead and this is a great time to start talking to your kids, no matter their age, about money if you aren't already. I found to articles based on asking family and friends on how they educate their family on money and you can read them HERE and HERE.
Disclosure: Coupon Savvy Sarah receives products in order to conduct reviews. No monetary compensation was provided unless noted otherwise. All opinions are 100% my own. Some posts may contain affiliate links that I receive commission or payment from in exchange for referrals. In the event of a giveaway, the sponsor is responsible for delivery of the prize, unless otherwise noted in the posting. I only recommend products or services I personally use and believe will be a good fit for my readers. I am disclosing this in accordance with the Federal Trade Commission's 16 CFR, Part 225: "Guides Concerning the Use of Endorsements and Testimonials in Advertising"
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