The kids started earning "Commission" in January. We have been using the Dave Ramsey "Total Money Makeover" and decided to start the kids early learning about money. They have charts and earn money. We used to have a specific day that was pay day, but I figured out quick that they, Tyton especially, work harder for quick cash. They have 3 envelopes labeled Give, Save and Spend. They are required to Give 10% and save at least 10%. The rest they may spend! It's nice cause now when they ask for stuff at the store it started as, "Mommy, do I have enough money for this." to not even asking cause they are trying to save. They also have a clip for a picture of the thing they are saving for on their commission boards. They are both saving for Leapster2's. Since it's so much we decided that if they would earn half then we would pay the rest. If they do EVERYTHING on their boards they should earn about 11 bucks a week. Most of the jobs they can't do everyday. They average about 3 bucks a week so... you can imagine how hard it would be for them to earn the 42 dollars for their half of the unit! Rory is a sucker for the candy at the check out counter. We never buy it for them and now that she has her own money she HAS to spend it.
Tyton is the other way around. He will ask for the candy and then put it back and decided to save it! I think he has spent maybe 10 bucks of his spending cash and saved the rest. So... this Friday he earned his Leapster! He was so excited. We made a big deal of it, I printed him a coupon. He was so cute carrying his jar of cash through the store. He picked our a Puppy game and took his stuff to the counter. He hasn't been able to get off it since! We really like the Leapster2 and have been impressed with the learning games. I don't feel guilty letting him play for a while. It will be a great toy for road trips! Aurora is a little sad. I think she understands better now that saving is a great thing. She only gets to play the Leapster if Tyton says it's ok. We shall see how long it takes her!
1 comments:
We love Dave!!! We plan on teaching Sophia the same thing! Isn't it amazing how different we spend our money? I can't wait to see how Sophia will spend hers.
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