Thursday, March 05, 2009
Kids and Money
To help Gerrick learn about money, we've started giving him an allowance that is divided among his three new jar banks: Saving, Giving, Spending. I knew that this is something I wanted to do when he turned five, but when I saw these jar banks at Wisdom and Grace, I got really excited. :)
We do not tie this money to chores or anything else. It is simply money for him to manage. Here are some really good articles about money and children that helped us come to our decisions of why and how to give an allowance:
How Do You Teach Kids the Value of Money?,
Teaching a Four-Year-Old the Value of Money,
and Allowances for Kids at Get Rich Slowly.
15 Ways to Teach Kids About Money at Family Education.
Set Your Kid Up for Success With Allowance Plan at MSNBC.
What Will YOUR Children Inherit from YOU? 10 Tough Questions to Ask Yourself at The Wisdom Journal.