We’ve been using Dave Ramsey’s Financial Peace Junior with Kathrynne and Kaitlynn to teach them the value of money and stewardship. In addition to their daily required (unpaid) chores, we also have a list of extra paid chores they can choose to do if they’d like. We want our children to learn that there are chores you do as part of being an asset to our family and there are extra chores you can choose to do and get paid for.
While this is not exactly how it works in real-life, we thought it would be a great way to help them learn the value of work and money on a small scale. So far, they are pretty excited about it — most of the time, at least! 🙂 — and it’s working out well. Plus, it’s providing lots of great opportunities to teach life lessons when it comes to work ethic, why we save, why we want to be givers and so much more.
Last week they had their first “Pay Day” and they were quite thrilled! At this point, we’re letting them choose how they want to spend the money in their “spend” category. So we went to Dollar Tree yesterday and they got to spend their own hard-earned money on a few items of their choosing.
It’s exciting to watch as they begin to grasp the basic concepts of giving, saving and spending.
Please note: We don’t profess to know much about this child-raising thing; we’re just learning as we go. I share this with you as an example of what we’re doing in our home, not setting it up as something you should emulate in your home. Do what works best for your family and your children!
While at Dollar Tree, I also picked up some more Nature’s Own Bread for just $1 per loaf. (Nevermind the fact that one bag is half eaten. We love Cinnamon Swirl bread around here! Yum!)
How are you teaching your children about giving, saving and spending? I’d love to hear your ideas and suggestions.