Tuesday, August 23, 2016

Kids and Saving

Lately, Harrison's conversations seem to revolve around how he can earn money.  Which got me to thinking about an allowance.  He wants money because he is tired of my response to "can I get a new toy?" (no, but I'll take you to get a new book or we can go to the library) or "can I have a new Lego set" (is it a special occasion I am not aware of?).

Now, don't get me wrong.  We don't only get our children new things on holiday's but I am also not going to run out and grab a Lego set to go along with whatever interest he is currently (and quickly) going through.  Also, he is usually a very content and well mannered boy.  So this just triggered thinking it was time to consider an allowance and what would work best for our family.

Up until this point I have been against the notion of an allowance.  We know several people who award their children monetarily for doing chores and behaving.  The hubs and I discussed this idea and for us, we just don't feel like rewarding our kids with money for doing what is expected of them.   DISCLAIMER:  I am not bashing those who do so. Some days I think it is very smart but different strokes for different folks.....right?

SO - how to properly go about giving Harrison an allowance?  He has a pretty decent piggy bank established.  I recently went to Coin Star with the collection he has amassed since birth.  Add in the tooth fairy money and envelopes from Grandparents and he's got a pretty penny saved up.  And if he could ride his bike to the local toy store, he'd be broke.  

SO - now I am thinking about how he can earn money and how I can teach him to properly save his money.  oie vie!

In regards to saving, I immediately thought of our weekly tithing envelopes he sees us give to the Church offering.  This was a great lesson in giving our best back to the God who gives us everything, the need to save and then use what is left for spending.  My next stop was Pinterest and, wouldn't you know it, I found the most adorable printables over at Three Little Monkey's Studio.  Then, I made this sign below that went into an old frame.

Sign reads:

The point is this: whoever sows sparingly
will also reap sparingly,
and whoever sows bountifully
will also reap bountifully.
Each one must give as he has decided
in his heart,
not reluctantly or under compulsion,
for God loves a cheerful giver.
2 Corinthians 9:6-7

Now, all we need to do is decide on a allowance structure.  I found an interesting article that suggested the age of a child per week.  Harrison is 8 and I think $32 a month is a bit steep. Especially since we are not implementing this for little brother.  I am currently thinking $8 at the beginning of the month, which we will immediately figure out this tithing and his savings.  Then the rest can go in the "spend" jar.  hmmmmm

I would love to hear your thoughts on how you award allowances and give savings lessons to your children.

Goodness, when did he get so grown up!!!

Thanks for stopping by - xoxo,

1 comment:

  1. Good for you. As dad always said "if you provide for the family, the family will provide for you".