Way back in February, we started giving the boys a weekly allowance of $2. They also got to keep half of their birthday money (the other half went to their college savings).
I can not tell you how much easier this has made our lives! Whenever we go shopping with them, we remind them to bring their wallets. If they ask for something, we tell them they can buy it with their money.
It's been easy for them to make decisions like buying $2 carousel rides at the local mall. And it's been interesting to watch them contemplate bigger decisions. Recently Nate bought water balloons ($2) instead of Hi-Ho Cherry-O ($9) to save money. And last night, Alex opted not to buy some Star Wars books because they were $8 and that is a lot of money.
The only time things got dicey was when Nate forgot his wallet and I bought something for him with the promise he would pay me back at home. When we got home, he didn't want to pay me so I wouldn't give him the item. He somehow talked Alex into splitting the bill (and the toy) with him, so I gave them the item when I got paid in full.
And that my friends, is yet another reason allowance rocks - teaching kids to work smarter, not harder.
4 comments:
Poor Alex, getting used by his brother. I do have to give Nate credit for his creativity however.
Wow... I think this may be the answer to my problems! LOL! An allowance for Nathan! heehee! I just sent the blog link to Jeremi and asked his opinion. :)
I love your motherstyle! You're teaching them SUCH good skills. And I love how you stick to your guns!
That's cool. I have been contemplating this for a while, but have one question/concern. When I think of the things one can buy for $2 they are all little junky things I do not want in my house. I can't imagine Cole will have the ability to save his money for something bigger. How do you deal with that? Is there anything you'd say no to?
Also, do you sometimes buy them things with your money? How does that go? I have a bad habit of buying Cole books and I can't see myself giving that up entirely.
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