My big big turned 10! It's crazy! Xayla thought it would be funny to have him try on his Kindergarten cap. So funny.
Sunday, August 02, 2009
Teaching kids about money
So I have been wanting to teach the kids about money for some time now. I could not figure out the best way to do it. I'm sure there is not a perfect way, but I have been reading about it for some time. K.C. sent me a BankRate article that was really good. I bought these bins from OfficeMax and I labeled them into 4 compartments: Save, Spend, College/Retirement, Tithing. The kids have a list of chores to do around the house. They earn an allowance once a week. There is also a list of chores they can do to earn extra money. They get paid at the end of the week. We split the money up so they pay 10% to each area and what is left goes to spend. It's been working great so far. You have to make sure you get small bills and change.
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