My out-of-the house son and I were recently discussing the minimalist lifestyle. We noticed how many people claim to be minimalists but in fact aren't. Case in point: money. It's easy to talk about living simply, but much harder to do it. And now that our son is paying his own way, he realizes why dad and I were so frugal when he was growing up. He sees first-hand how expensive things are and how easy it is get deep in debt. Avoiding debt is one reason parents should live simply. Here are others.
* Minimizing spending prepares kids for the real world. And conversely, overspending doesn't. Kids who are raised with privilege and excess are ill-equipped for reality. Paying bills on time, living happily with less, living within a budget–kids who have everything handed to them don't learn these skills. Our kids never went without necessities. They had plenty of toys. But they weren't immersed in possessions. Our lives didn't revolve around stuff. Each child now knows how to work, save, budget and stay out of debt.