I recently had my first of many planned financial lesson over lunch with my oldest son and daughter. It's the summer time and they are constantly asking can we go to the movies, can we go get ice cream etc. I wanted to make sure they understand that mom and dad are not just saying no to say no, that there are financial reasons why we can't go to the movies every weekend. Also the fact that they need to clean their rooms and do all their other chores around the house. I started with a topic I thought they might relate to and have an interest in, cell phones. I asked if the knew how much my wife cell phone cost a month. I figured this would hook them in, since they both want cell phones. The were all over the place in their guess from $25 to $100. I explained the cost of the one phone and if we added 2 more what would that do to our bill? They both agreed it would go up.
We had a great conversation that lasted about 20 minutes. I explained my salary and all the different bills we pay each month. After the money discussion was over, I said you see why we can't go to the movies all the time and why we can have ice cream out everyday. They agreed. Later in the day I was retelling the story to my wife, when my 8 year old son interrupted and asked. "Can we go to the movies?"