Kids and Money

In our house we have this antiquated idea that money comes from work.

With that in mind, E does not get an allowance in the true sense of the word. Instead, she earns money for doing chores.

Now, she is only six. So, her chores are not terribly demanding and her commission is fairly low since she does not have many expenses.

Each evening, she chooses one chore from the chore board to complete.

Do not think this color-coded goodness is not often met with complaints. It is. But, she does like mopping. So, I’ll count my blessings there.

I don’t care which chore she completes on which day, with the exception of taking out the trash…that must be done the night before garbage pick up. And wiping the table must be done on all weeknights.

Each chore card has a dollar paper clipped to the back of it. As soon as she completes a chore, she gets the dollar (instant gratification!) and the card is flipped showing it has been completed for the week.

By Friday evening, she has earned $5.00. She has to give $1.00 either directly to church or use it to purchase food for the ongoing Catholic Charities food drive.

She also has to save $1.00. The remaining $3.00 is hers to spend as she chooses, with our guidance…because, again, she’s only six.

Right now, she’s putting most of her money in savings each week with the hopes of having enough for one of those fancy Disney Princess Build-A-Bears. And an American Girl Doll. And pierced ears.

She also decided to spend some of her money at her school’s book fair. I’m not buying books right now when we have a shelf full of them and a library where we can borrow them for free.

Our system doesn’t play out perfectly each week. But, I do feel we are laying a good foundation for her relationship with work, money, giving, saving and spending. You can see the wheels turning when you say, “Well, you could buy this. But, do you want it more than you want your Build-A-Bear?”

How does your family handle chores or allowance?

Join Hello Old Blue on Facebook for more encouragement!


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s