So - Bryton has graduated from M&M's for using the potty to money (pennies and nickles). At the end of each week I'm going to take him and let him spend the money he has earned. (LOL - I crack up using the word earned in this context!)
Anyway - since he has sparked such an interest in money - and he's going to be handling a great deal of it (in pennies, of course), I figure it's time to teach him the 'give, save, spend' method of money. We want giving and saving to be core in how our kids manage money. So, starting tomorrow, we'll learn about putting money in three different places... his piggy bank (save), a tithe envelope (give), and a pocket of sorts (may be a craft project for the day). I'm sure it may take several weeks for him to 'get' this idea (as we'll take the money to church and put in the offering plate his tithe money, and he'll get to spend his spend money, and we'll take his piggy bank money to the real bank... eventually), but I figure there's no better time to start than now.
Now - since Bryton is two and a half (some people may find this ridiculous, I say there's no greater time to start), I feel it's time to start him on some chores and small jobs around the house.
He picks up on his own. He can put his dirty dishes in the sink (and does on his own mostly). He helps get us things for Ansley. Etc. I want there to be things he does just because he's a part of this family and he is expected to be a contributor to this family. (Yes, even at two and a half.) He's even helped put his laundry away!
Now, I'm wondering if any of you blog moms out there have any suggestions as to what to do for 'allowance' related jobs?
I'm in the process of considering several options... like just offering him odd jobs as I come across them... or maybe offering things he can do each day to earn a specific amount of money... and I've even seen the idea of setting a specific amount for certain tasks and if he does it, he gets that amount, but if he doesn't want to do it that day, he has to pay someone else that amount to do it. (Actually just saw this on a blog tonight - the idea was that if he was expected to walk the dog for .25 and didn't want to walk the dog that day, then he had to pay someone .25 to do it for him.) And I'm not throwing that idea out yet either. This may take a little bit of time to perfect, and even then may be a changing system over the years.
What do you guys think?
If we're going to teach him about money he has to have money. My goals are:
- Teach him about how to manage money, with giving, saving and spending each being important to our financial health.
- Expecting certain things of him around the house because he is a part of our family.
- Not just giving him an allowance... teaching that money is something that must be earned.