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wierd title- I know. a bit long- trying to explain the situation.
How do you teach the value of a dollar to kids that really don't care much about money??
I opened up youth savings accounts for my kids - the wells fargo ones that have incentives for deposits. Every time you deposit 3.00 or more you get a little coupon. After you collect a certain amount of coupons, you get a little prize, like pencils, stuffed animals, ect. you can also earn a 25.00 savings bond.
Then I set up an allowance system- 1.00 a week for each year of thier ages. for example, a 6 year old would get 6.00 per week. Then I set up a chore chart with roatating tasks on a white board. Each child was to check off her chore as it was completed that day. if they completed all the chores, it equalled the full allowance. ( 6.00 for all chores completed in the week. )
these chores were extras beyond what they were expected to do around the house. They already have to clean thier rooms, feed the dog, ect. But extra chores included things like sweeping the patio, dusting the downstairs, ect.
well the kids weren't remotely interested in any of it. they had no desire to make any money. they really weren't keen on the whole bank account and prizes. I thought I'd start simple, and as they saved and bought things we could talk more about interest, and debit cards, ect. there is even a cute girl scout program called Penny Power that talks about kids and money that I thought I'd do with them, they said it sounded "boring".
The kids just aren't "wanters"---- they get some birthday money and jam it in thier purse and forget it. The tooth fairy came last week and left a dollar on dd's dresser. it's still sitting there, untouched. They don't see commercials and instantly want anything. they don't covet candy or sugar cereals. ( even though I do!) sometimes one will talk about wanting something and ask if they can add it to thier christmas or birthday list. My older dd had exactly one thing on her christmas list last year- a musical instrument.
I don't feel like they are spoiled- , they take birthday money to garage sales to buy books sometimes, but mostly anything they get comes from thier birthday or christmas. they don't ask for new clothes- just whatever I find on clearance and hang in their closet is what they wear.
I dunno- I was hoping to make money a teaching tool- to start up leasons about savings, charity, and some math lessons too like investing, compound interest.
any advice?? What am I doing wrong? I want financailly literate children and I wanted to educate them about money before the teen "gimmes" come along. thanks.
How do you teach the value of a dollar to kids that really don't care much about money??
I opened up youth savings accounts for my kids - the wells fargo ones that have incentives for deposits. Every time you deposit 3.00 or more you get a little coupon. After you collect a certain amount of coupons, you get a little prize, like pencils, stuffed animals, ect. you can also earn a 25.00 savings bond.
Then I set up an allowance system- 1.00 a week for each year of thier ages. for example, a 6 year old would get 6.00 per week. Then I set up a chore chart with roatating tasks on a white board. Each child was to check off her chore as it was completed that day. if they completed all the chores, it equalled the full allowance. ( 6.00 for all chores completed in the week. )
these chores were extras beyond what they were expected to do around the house. They already have to clean thier rooms, feed the dog, ect. But extra chores included things like sweeping the patio, dusting the downstairs, ect.
well the kids weren't remotely interested in any of it. they had no desire to make any money. they really weren't keen on the whole bank account and prizes. I thought I'd start simple, and as they saved and bought things we could talk more about interest, and debit cards, ect. there is even a cute girl scout program called Penny Power that talks about kids and money that I thought I'd do with them, they said it sounded "boring".
The kids just aren't "wanters"---- they get some birthday money and jam it in thier purse and forget it. The tooth fairy came last week and left a dollar on dd's dresser. it's still sitting there, untouched. They don't see commercials and instantly want anything. they don't covet candy or sugar cereals. ( even though I do!) sometimes one will talk about wanting something and ask if they can add it to thier christmas or birthday list. My older dd had exactly one thing on her christmas list last year- a musical instrument.
I don't feel like they are spoiled- , they take birthday money to garage sales to buy books sometimes, but mostly anything they get comes from thier birthday or christmas. they don't ask for new clothes- just whatever I find on clearance and hang in their closet is what they wear.
I dunno- I was hoping to make money a teaching tool- to start up leasons about savings, charity, and some math lessons too like investing, compound interest.
any advice?? What am I doing wrong? I want financailly literate children and I wanted to educate them about money before the teen "gimmes" come along. thanks.
I wish my kids wouldn't want so much material possessions, and just be content with life in general.
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