The unconventional way I taught my kids about responsibility with money
Here is the actual allowance invoice I used. You can tailor it to your needs as well.
Allowance Invoice Word Doc
Id love to hear your comments about this video. How have you taught your children about money? What tips do you have for parents walking this journey now? Please share in the comments below. Please, feel free to share by hitting the social media buttons if you know someone that could benefit from this 🙂 Blessings of Love & Light to you -SDJ
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9 thoughts on “The unconventional way I taught my kids about responsibility with money”
Children had an allowance based on their age. They could earn money doing extra chores – that works only if all involved parties are on the same page. The allowance and chore money was divided into three categories: save, spend, contribute. When they reached 18, I gave them a small nest egg of their “saved” allowance. The spend and contribute portions were for them to choose. And, yes, when they asked for something, I would tell them they had to use their allowance to pay for it.
Awesome… thanks for sharing 🙂
As a child my parents had a weekly chore list for me to complete, and then I would be paid an allowance. It established the rules of participation in our household, which my brother also then learned. Once in a while, we were given the option to complete additional chores for extra funds. Reminds me of being paid for working overtime hours as an adult. The funds were set aside, and then used when I wanted to buy presents, or when we took a vacation so I could buy something small as a memory from the gift shop. As I became older, I then did babysitting to earn more funds. This helped me purchase clothes for school. Having parents that grew up during the depression had them learn how important it was to earn a living, and they helped me and my brother plan for our future with their stories. We both took on jobs in the summer, and also worked during our college years to help pay for our expenses. A valuable tool that began in childhood during elementary school. A good tool for math and budgeting as a child. Thanks, Sunny. Always good to have a learning tool for kids.
thanks for sharing linda
I LOVE this!!! Thank you! I have a great system of a list of chores they can do and how much each one is worth so they control how much they bring in and I refuse to buy them anything, they have to buy it themselves so they tend to hustle when they want something but lack on other days but that is their choice. I don’t even buy them snacks they have to use their own money for that. I tell them my job is to provide shelter, clothing and food anything else is a privilege. But this invoice is my missing peace because I would do the same not know if I paid them or not and this makes it even more official. Thank you for sharing this. love it!
Awesome… yes, it makes us not have to keep track:)
I love this!
Thanks:)
Awesome.. I learned the hard way:) Happy to pass it on:)