Time to learn about money :-)

We have always done some sort of a reward/chore chart in our house.  Sometimes it was something as simple as a post board to stick stickers too and sometimes it was more in depth with lists and dates etc.

My kids do a LOT around the house and are great helpers.  They have always done this with out "needing" any sort of payment.  We have decided to start giving them an allowance but isn't because we have to or because they are asking for it.  It is just because we feel that teaching them about savings, budgeting and earning their own money is an important LIFE skill to learn.  

I sat down with the kids...yes, just ME.  Larry has been working 7am - 11pm every day so he hasn't been here to join in the actual conversation but he is on board :-)

Anyway...I sat down with the kids the other night and we talked about responsibility, about being part of a family and how important it is to work as a team.  We talked about what was considered an every day responsibility and then we came up with a list of extra "chores" that they felt they could handle doing.  I had already given this a lot of thought and researched what would be considered "age appropriate" chores so I was able to throw in a suggestion here and there...LOL

Even though helping out around the house has always been part of their every day, they were SO excited over this conversation we were having and their "new" jobs.  It was pretty freaking adorable!

Next, we sat down at the table and wrote down all of their Daily and Weekly responsibilities on their new charts and hung them on the refrigerator.  After that (the hard part) was done I told them we needed to talk about one more thing....MONEY!  HAHA

They both already know and understand how we get our money and how important it is to save it etc.  I do not buy them toys every time we are at a store and they KNOW not to ask for cheap/needless things etc.

I think it is SO important for them to know how it feels to accumulate the money needed for that special something, to see their savings grow and then to have that amazing sense of accomplishment as they stand in line to make their purchase.  I know my kids appreciate when WE buy them things but this is going to take that appreciation to a whole new level.

They know that they are not given money per chore etc.  There is no monetary value for each chore.  If we add to their list or ask to do something NOT on the list that doesn't increase their allowance. We all work together as a family and they know that "helping out anywhere needed" is a normal expected behavior.  They have their daily and weekly responsibilities and at the end of the week, if they have done a good job, they will get $2.  

I went out today to FIVE Below and purchased them each a cool money counting jar.  Something so simple and made their day!  They can't wait to start saving.  Logan already had some change and I gave Gloria a quarter so she could get her money counter started...lol  She is so happy with just that :-)

It has only been a few days and it really isn't a HUGE change from our normal routine but it is enough of one.  I have already seen a difference in their behavior and I am so excited and thrilled for them!  I am sure I will be back to blog about their savings and their first purchases!