Well.....My first attempt at starting a family blog failed, but here goes again. I have always been a terrible record keeper, and wish that I had done better. There's nothing like the future, so again I begin.
Jason and I decided to start allowances, which we really have never done. But more than that, we wanted our kids to learn the value of money, possessions, work, and how to manage their finances. I found an idea on the valuesparenting.com blog about a family economy and we've just started. The Damon (10) and Isabel (8) have four areas each day to earn money in 1. AM routine 2. Homework 3. Zone Cleaning 4. PM routine. AM's and PM's drive me crazy because I feel like I'm having to tell them each little thing to do with many reminders. With our new system, I'm hoping that will become more kid driven. I am the biggest problem though, so I've made a check list for the kids and am planning on banning myself to my room and just let them manage themselves. They are to be by the front door ready for the bus at 7:15 am where we will then read our scriptures. If they don't make it on time or skip items on the AM list, they don't get the deposit.
We had our first learning experience today with money. We set the 2 big kids up with virtual accounts on threejars.com so they can keep track of their spending, savings, and charity (tithing). Damon had some money in there last week, but spent some on items at the book fair and a "Magic" outing with dad. He was very disappointed when he realized that he only had $5.28 left on his account and we were on our way to the school's annual craft fair. "Can't I return the book to the book fair! Why did I spend my money on such stupid things!" While it was hard to watch him go through it, this is a perfect example of what I want my kids to learn.
Damon is also going to be responsible for buying his own clothes and paying for his Magic nights with dad, so he is getting more money that Isabel. She was quite upset when she found out he was getting more $, but when I explained his financial responsibilities, her eyes widened and she said, "I'm glad I'm not Damon. That's a lot to be responsible for! I think I'll be happy with my lesser amount."
Let the lessons begin (for the kids and the mom......I really am going to struggle with NOT giving reminders! I'm a bit of a control freak.....!
