TEACH YOUR CHILDREN TO EARN THEIR OWN MONEY.
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I have told you how important it is for children to do chores, and how much they learn.
Today I am writing to tell you that sometimes children want things that they want to buy for themselves.
With their normal chores chart you can add another one that tells them how much they can earn if they do certain things.
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You must make a chart for them to go and look at to see what they can earn if they do extra work.
This is more for the bigger children in your home. If they know that they will earn a certain amount of money after they had done a chore that was not their normal chore they will really learn how to work with money.
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They can work out how many chores it will take to get the money they need and then carry on from there.
Once children learn to work for what they want they will realise that you also have to work for your money and you have to budget.
This will teach them to budget how long it will take them to get enough money for what they want to buy.
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It must not always just fall into their lap as they will never learn how to handle money. It is so important for children to realise that money does not grow on trees; it is something you and they have to work for.
You will also find that your child will enjoy the item so much more once they have bought it and realised that they worked for it.
I can assure you that they will look after this item so much better, than you just buying it. They will appreciate the fact that it took some time and they had to do extra things to get the item they wanted and that is just how life works.
I am not saying that you should never give them gifts, of course they have birthdays and other things they need for school that you will supply, but if it is something that they want for their own reason it is so much better if they learn to work for it.
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Children will also have fun when they do the extra work as they see that their little bag of money is adding up. So teach your children the value of money and they will remember it all their lives.
I hope you have a wonderful day and enjoy doing your children the favor of teaching them the value of money.
As my kids grew up they had 1 penny per year old that they were, [8-year-old = 8 pence, 6-year-old = 6 pence] per fortnight [I was paid fortnightly] the penny would have been 50 to 75 cents worth today.
The local dairy was on our side of the road, within toddling distance, and they were allowed to spend their money on lollies, but they had to budget to make the money last until next payday. [pig out now and starve for two weeks, or, 1 or 2 lollies a day until next payday]
Birthdays then became a looked forward to day, it came with a pay rise.
Now, with the youngest turning 50, they have all learned the valuable lesson.
This is so good, if they do not learn to earn or save they will not know how to work with a salary. Mine was given 5c a week and the one always had money. Lol the other one never had money. Today they do know how to work with money even the one who never had, but his was telling a lie because he thought his sister would want to borrow.
Strange you should say that my son claims that all of his 3 sisters owe him hundreds for what they borrowed off him and never repaid.
It must be a female thing to do? :-)