Fun Ways to Teach Kids About Money

My 5 year old son's birthday is right after Christmas... so needless
to say, he gets a lot of cash and coins from relatives. He had it
stashed in various places all over his room, because of course he'd
rather play with toys than the ol' dollar bills. I wanted to teach him
about the importance of a dollar so I started the Dave Ramsey Financial
Peace Jr.  I'm very passionate about my kids learning good money
habits... because that is one of my main weaknesses! Luckily for us, my
husband is Dave Ramsey's twin! ha.

Financial Peace Jr. - Kids - Training Tomorrow's Millionaires

Along with this book, Dave has a great web site
for kids. He uses a envelope system for saving, spending and giving.
His book comes with a chart to keep track of chores and commission. I
love how you get fined for bad behavior!! Basically you pay your child
at the end of the week, then they sort the money into the envelopes.
10% goes into savings and giving, the rest in spending. Just like the
real world. I also love that part.

Well, we did Dave's chart for a while and when you have
scatterbrained, non-interested 5 year old, you have to mix it up a bit.
So I headed to the local teacher store and found this awesome magnetic
chore chart that has pictures of the chores. I decided the smiley face
magnets would equal a dime.

This new chart has really worked for my son. I hung it low enough to
where he can add the magnets when he does a chore. He know knows that
if he wants something, he needs to work for it. Granted there are times
that he still whines, begs and throws fits for something, but in
general he is becoming a mini money and math mogul. He loves to sort
his money into the envelopes and take the give one to the church.

To date, he has given the church nearly $12. Not bad for a few
months of making a dime per chore and me forgetting to pay him some
weeks! (remember I told you I was bad with money!) What I love is that
he is so proud and happy to give it. Our church has this cool coin
machine that kids can drop change in and get a receipt. So that part is
fun too! I make sure to talk about his giving to our pastors while he
is standing close enough to eavesdrop:-)

I am so happy with this system that I'm even speaking to a group (MY
BIGGEST FEAR) to help others learn ways to teach their children to
spend, save and give.

Oh, one more thing! I just got my Fundoodies in the mail. Now I have one more thing to shake things up when the magnet chart gets boring. Fundoodies
is an awesome card game, created by a mom, that gets kids excited to do
chores. My son has been begging me to play. Unbelievable!! The reason
being... there are rewards mixed in with the chores and he REALLY wants
to go bowling. ha!

Good news for you!!! Fundoodies is
GIVING AWAY a game!!!

Just leave a comment on my blog post to enter the drawing
and I'll pick the winner's name on Friday, Nov. 21st. Be sure to leave a valid
email address and check out their site for all the details of the game. It's really fun, you will want to win this if you have kids!

 

Recent Posts by livinglocurto

Comments

In order to comment on BlogHer.com, you'll need to be logged in. You'll be given the option to log in or create an account when you publish your comment. If you do not log in or create an account, your comment will not be displayed.