I wrote a post a while back about teaching children the value of money and how I thought this responsibility rested on the shoulders of parents. I had a lengthy discussion with my sister about this since she left me a comment which seemed to disagree with me. And I hate it when she does that!
I maintain that the value of money and how to manage it is a value passed from a parent to a child. Learning how to calculate interest on a loan is math so that sits squarely with the school.
Marc & I bought some money boxes for our children to aid our parenting goal of teaching children about money. The money boxes include separate compartments to Spend, Save & Share their money. The idea is that their weekly allowance is then divided up (at their discretion) between the 3 boxes. The money in the Spend box can be spent immediately, ie as soon as they get it or that weekend, for example. The money in the Save box can be saved up to be spent on an item that they have identified (say in a catalogue or saw in a shop) but don't have enough in the Spend box to buy immediately. The Share box is donated to charity (picked by the child - with your help) at intervals designated by the child. The children get to decide how much goes where.
The idea is that they get a weekly allowance for doing things above and beyond their normal responsibilities like brushing their teeth, taking a bath, making their bed, going to bed. These are all the types of things that they do in order to be a productive, happy member of the family. For example, I don't want to pay them to set the table because as a member of the family they must help me set and clear the table for meals.
Now, readers, I need your help. What sort of duties could a 6 and 3.5 year old do that could help them earn their weekly allowance? I'm really struggling with this. Sebastian is too young to mow the lawn. Abigail just ain't big enough to clear out the garage. We don't get enough snow for them to shovel the sidewalks. I've got to get this sorted and I don't know how to do it.....
PS I was very proud when Sebastian announced that the Share box was very important "since not every one is as lucky as I am". Now let's see if he can put his money where his mouth is!
I imagine that the discussion about worthy charities will also be interesting. Any ideas on that one?