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Sunflower State | I will share what we do. We have our kids 10, 6, and 3 (she will start this soon) on commission. Work get paid, don't work don't get paid. They each have chores they do to get paid and some chores without pay. We keep a chart on the refrigerator and they get a stamp for work completed. Pay day is Sunday, Give, Save, Spend envelopes is how they divide the money. We usually have them take money to balls games etc. because they like to blow it on junk food etc. Normally $3-$5 depending on the type of event. When they are out of money there are NO loans from mom and dad. That solves tons of problems and gives us many teachable moments. Like, this is the way mom and dad spend the money we earn. Set priorities etc. We keep it very simple. #1 so they learn something, #2 it is easy for us to keep up. Works well when mom and dad do not forget pay day:) We are reminded quickly though.
ANother benefit, when we are the store and they want some trinket or gum etc. and they ask us for it. I simply ask them, did you remember your spending money? The asking stops.
Eric | |
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Money and Kids ????
