How Much is Too Much to Spend on Kids?
Description
Is my child too spoiled? If you’re even asking, that means you’re spending a good amount of money on your kids. We get it. Youth sports, music lessons, and all those extracurriculars add up, but does that equal a spoiled kid? In this episode of the All Pro Dad Podcast, host Ted Lowe is joined by BJ Foster and Bobby Lewis to talk about how much we’re spending on our children and if that’s even a bad thing.
Why This Matters
Stewarding our money well is one way we love our families.
Potential Problems of Overspending on Our Kids
1. Kids may get used to receiving all the time.
2. It demonstrates a lack of self-control by Dad.
3. It contributes to kids’ anxious feelings.
4. Parents may feel financial strain.
5. The line between need and want gets blurred.
What Can Dads Do?
Action Step 1: Take a hard look at your spending habits around your child. Is it excessive?
Action Step 2: Take a hard look at what your spending habits around your kids is doing to you. Are you overextended and stressed out about money?
Important Episode Timestamps
00:00 – 01:19 | How Much Are We Really Spending on Our Kids?
01:19 – 03:51 | Am I Overspending or Just Feeding Them?
03:51 – 05:35 | Theme Parks, Passes, and Pricey Memories
05:35 – 09:03 | Did Our Parents Overspend? Not Even Close
09:03 – 10:37 | The Gas-Money Jar Strategy
10:37 – 13:48 | “This Isn’t Fair!” and the Car Lesson That Stuck
13:48 – 17:53 | Overspending Sets an Example—Good or Bad
17:53 – 21:20 | Needs vs. Wants: The Hockey Equipment Breakdown
21:20 – 25:57 | Am I Buying This for Them… or for Me?
25:57 – End | Pro Move: Identify 2-3 significant items or experiences you’ve provided for your child, and ask yourself: What lesson is it teaching them about money, patience, and value? If the answer isn’t clear, or feels negative, hit the brakes and reconsider.
All Pro Dad Resources
Episode 56: Dale Alexander: How Do We Teach Our Kids About Money?
Episode 57: Dale Alexander: What Should Ever Dad Know About Managing Money?
3 Ways to Think Differently About Your
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