So today starts your first week and you have until next Sunday (the 24th) to get them done. Come back on Fri to hear about week #2. There are lots of good things in the works. Also, I plan to do a few giveaways now and then so make sure that you follow this blog (just click the button on the right side of the page) so that you know when updates are made.
I'm curious what most of you do for allowance? We started allowance with our older son back in January- just a little before he turned 7. I know some people that start allowance much earlier than that and I think it really depends on the child. Back in college, I had a wonderful teacher that told our class one day about her allowance system for her son and I thought it was the neatest idea. I tucked that idea away in my brain and couldn't wait to start this with H. I found lots of "banks" that went along with this idea. I personally chose this one but there are a ton of them out there that teach the same concept. Basically, H earns $6 each week for chores. Some chores that he is responsible for are chores that allow him to earn money. Others are just non-paying chores that he is responsible for (like putting his plate and cup away after dinner) We try to find a balance between letting him earn money but also teach him that some things he has to do just because he is a part of our family.
This is how we use the bank:
- $2 goes into the "giving" section. We personally decided to have him take $1 from that and give it to the collection plate at church each Sunday. The other $1 stays in the container for a later time. (this year he will be adopting his very own angel from the angel tree and all that money will go to purchase clothes and toys for that child. More on that later!)
- $2 goes into the "saving" section. We really haven't decided what this section will be for.......maybe he could put this down on a car or something one day? Still not sure. From time to time, we will deposit it into a savings account created for him at our bank.
- $2 goes into the "spend" section. This can be for whatever he wants. He has used this money to buy Lego kits and other things. It's been nice because it gives him a sense of ownership but also teaches him that he has to wait sometimes until he has enough money to purchase it.
- Extras: anytime H gets extra money for his birthday, Christmas, tooth fairy, etc... he gets to choose where that money goes. He can put it all in the spend or divide it up or whatever he wants to do. It's his choice.