It's about time that C and R start learning about money management, and they really need to get better at picking up after themselves, as well as helping with some chores. We decided that an allowance system might help. Half of the money they earn will go into savings accounts, and half will be available for spending. I used some alphabet letters and some clean peanut butter jars to help them see their money. Now, how do I stop them from taking the money out of the save jar? Well, right now, my plan is to trust them to do the right thing! I also plan on depositing their savings when they reach $10, so there won't be too much money in the jar. I hope this works.
What chores do your young children have? Do they earn an allowance?
6 comments:
My kids are expected to help clean up without reward, but today I gave Emma a new job: mopping the bathroom floors. Since it's a job the younger kids don't have any part in, I decided to give her a reward. Today, she was happy with a piece of her own Halloween candy, but I could see it switching to an allowance-type reward in a year or two.
We keep debating an allowance. We don't have one right now, and we don't want to tie it to the chores, since we both hold the opinion that the chores are just the part of being a family. Lars feels that since Anna doesn't really have any serious wants, she doesn't need an allowance. From time to time she kind of asks for one, but never insistently enough. I think maybe we will start it next year.
We do something similar. R is expected to complete a set of chores just because everyone has to work at chores to help the family. He doesn't get any reward for these. He can however do extra jobs for a nickel a piece. We have three jars. Save, Spend and Give. He just took some money out of his Give jar to buy some toys for a little boy that is in need. I'm really proud of him. The three jars is something that my inlaws did with my husband. I really liked the idea and it's been working well for us.
I like your idea of taking the money out to put in the bank. It's less of a temptation that way. Let us know how it works!
Kiddo has regular chores that he is expected to do without reward, but he has one money earning job: feeding the cat. He keeps a ledger of his earnings and his required to put some money aside for saving and some for giving. I wrote about it here: http://momandkiddo.blogspot.com/2011/01/accounting-for-6-year-olds.html
I am like many of the moms....if the kids will do their original chores..then they can earn extra money for extra help!
OH, I won't go into listing the chores here, it's too many--LOL! But, yes, they definitely have them and they also earn an allowance. Jack is 'in training' right now for chores :-). Really though, he follows Hanna and Joe on simple chores and helps so he can learn a few to hopefully do on his own very soon. No allowance for him yet, he's very willing to do them for 'fun'--it won't last! Jesse's chore is to mess up what we clean up :-). He does love to follow us around though and 'I hep' as he says.
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