Money Matters

After more than 2 years of a marble jar as part of our daily to teach our children chores, responsibility, and money- we have officially retired it.  I think we all were alittle sad to see it go.  This jar, and two other ones have helped Brian and I monitor our children's morning routine.  Its gotten them excited about doing work around the house, about helping out, and about saving and waiting and earning to receive something, not just getting.  Its also brought so much joy when our kids reached the top and got to "spend "their marble jar or decided to save and get something that was worth TWO marble jars!

We knew we wanted to move into a Dave Ramsey way.  We knew we wanted to teach them some new skills but didn't know how or when to get started.  And then this week we listened to a podcast of a seminar together from Hearts at Home about money matters and helping your children thrive with core values in a world of commercialism and everything changed.  We found the way, together.  And we started last week. 

 We've  moved into allowance.  Each week, the children will receive $3.  On Sunday.  They will still be expected to do all of their daily chores for personal responsibility and for our home.  They will also be expected to help out around the house when asked.  If they don't- no allowance.  

 The children were each given 3 envelopes.  One save, one spend, one give.  This is very similar to the system Brian and I use with our Dave Ramsey plan.  Each Sunday, the kids have to decide what to do with their money.  If they choose to put it in the spend envelope, anytime they want a piece of candy from the store, or a treat from a garage sale, or a toy from Target- here is where they will look....not to us!

If they want to save, we will put that money in the bank for them.

If they want to give, they can use that money to give to church, to another person who needs it, to an organization they feel drawn to, or whatever.

Its taken a few days for us all to get used to it and to leave the marbles behind.  But they are getting it.  Alaric is desperately saving every dollar for The Green Ninja from Ninjago Lego.  He wanted it, he researched it, he evaluated how many weeks it would take him to earn it, and he has his eyes on the prize.  And when he gets his toy, he'll have no other money for awhile.

Mara gave all of her money to "give" the first week.  She's since put some in spend.  She is just excited to have money and have a cool piggy bank.  She's been talking about giving some money to Wild Kratts and more to church. Our sweet children!

Its new.  Its different.  Its a lifestyle change for our little ones.  We are so proud of them and so excited to start them on a deep understanding of money and the values that go with them.