Sunday, September 18, 2011

Mason Money

A few months ago we set out on a new financial journey. It's called A Budget. We decided to take the kids with us. I even bought them new luggage for the trip.

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These mason jars are now the keepers of all things needed for the trip. Cooper only has one jar, because anything further would be difficult to understand. Abigail has three jars: spend (70%), save (20%), tithe (10%).

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The kids earn money by doing chores. We don't give them an allowance, but do pay them for any tasks beyond what is already expected of them, i.e. clean rooms, beds made every morning. Cooper has become wonderful with the vaccuum cleaner. Abigail likes to clean out my car. And, I was able to let my housekeeper go.

Cooper's jar is mostly empty, because he recently spent all his earnings on a used Nintendo DS with five game cartridges. Abigail's save jar is empty because we opened a savings account that is used when the jar becomes full.

I love that the kids are learning that money must be earned. And, I especially love to see them making choices of how to spend their money.

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