In this article of Money Stress To Money Success, ZOE SLATER, Mental and Emotional Mindset Coach and Counsellor, and CEO of Freedom Choice Academy shares her kids iPhone money stress.
My kids share iPhone data and I monitor it closely. As the month unfolds, I send them live data usage and ask them to be mindful of their portion used.
I always consider what am I teaching my children and their iPhone usage provides the opportunity to learn many valuable lessons when it comes to money management and taking responsibility.
The lessons include:
- The benefits of working together – by collaborating they get more data = Money Success.
- If they go over the usage – there will be financial consequences = Money Stress.
Even though my children can see their own usage, the “I Know Everything brain” is still growing – so I still need to swing between intervening and not.
Why? Because left completely to their own devices the ‘attitude’ completely kicks in and they don’t care about the consequences.
So, I reminded them that they had run out of warnings and this month’s absorbent high user would be paying for the additional data costs. Yes their ‘I don’t care attitude’ is alive and well and basically they never believed I would make them pay.
So I stayed calm and cool and every time the extra data charge came through, I reminded all of them that the absorbent user was paying.
My kids were watching worriedly as the new data charges kept pinging through the iPhone with live updates, AND yes, they would have to pay for it.
As you can imagine tempers started to rise. Every extra data notice that came through I reminded them that they would be paying for it straight out of their account.
Tough love lessons
Naturally it ended up a screaming session for my teenagers. They let me know how much they hated me and how unfair it was. And yes, I understood it from their point of view.
However, I am the mother, the teacher of life lessons and although my love for them is endless – accountability, follow through, and consequences escape no-one.
By the way the extra data for that one month amounted to $85.60 cents.
Was it easy for me at the time to parent this lesson ‘NO’, but moving forward all my children now understand the consequences?
Life Lessons and Money Lessons are ageless!
Mind you I think it’s unethical of phone providers to dump additional data on your account without confirming you can pay it. You need to be adult to understand the pros and cons of dealing with monopolies.
A PACT TO ACT! – practice the art of having money success by taking the right action and I assure you; your life will start heading in the right direction.
Keep those questions coming.
Until next month – Turn Your Money Stress into Money Success.
Zoe Slater Counselling and CEO Freedom Choice Academy. Zoe is an Associate Member with the QCA Inc and a member with Australian Counsellors Association.