This might be a bit of a stretch to make the connection here, up I’m up for the challenge. I have been writing a lot of personal finance pieces lately and need to shake out what’s swirling in my brain. I personally love to talk about improving credit scores, best interest rates and debt settlement scams. Maybe you do to — or want to know more. Either way I think you will find this post amusing.
Okay. How learning to swim is similar when learning to budget.
Swimming and saving are two things that take time. I think a lot of people give up on savings accounts because they think stowing $25 on the first shot is not good enough. That’s like saying because your fearful child didn’t swim across the pool on the first lesson they aren’t doing a good job. Deliver huzzahs for small efforts. They add up to progress.
Don’t compare other situations to your own. It’s not how much you make but rather what you do with your money that matters. So it’s not about the fact your child is 3-years old and his same-aged friend is swimming circles around him. Swim ability is not defined by age but a host of different factors. Jimmy doesn’t need to keep up with Jonesie in the pool.
Create a budget (and swim schedule) and stick to it. You’ll make the most progress with these two subjects if you stay regular about practicing them, especially when you need to most. This means working with a resistant swimmer (or saver).
Don’t get in over your head. Good safety pool rule for newer swimmers and those with too many credit cards.
Stay away from businesses that offer the impossible. I don’t have much respect for debt settlement companies that promise to “reduce what you owe in half!” because studies and articles show (like this CNN Money one) they have like a 10% success rate and put people into future financial ruins. If anyone flat-out quotes to you exactly how many lessons it will take to get your child swimming, they are estimating the impossible.
Ignoring the signs today means a struggle tomorrow. While it’s true some kids just aren’t ready for swim lessons, it’s important to be proactive with swim skills and get assistance in the form of assessments or lessons with the right teacher. Same goes for spending outside your means, which equates to future debt.
Invest today and it will pay off tomorrow. The more you spend time with your child in the pool today, the more it will pay off in confidence, safety and the importance of health and fitness in the future. Same goes with investing in your company 401(k) plan or a Roth IRA.
Does anyone have any clever examples to share? I’d love to hear them here at Squidkid.org.
