Allowance...the Hubby and I have had lots of conversations over this word.
We have come to a realization and that it is our job as parents to teach our children the importance of money.
How to save it.
How to spend it.
How to give to the church.
We have decided to not use the word allowance...but COMMISSION.
HA...we are the mean parents!
Here is our thought process...
there are jobs that we think that the kiddos should do without getting paid...
Then there are the chores that we want them to do to really help out around the house.
Weekly chores, so that they will learn responsibility.
We read that you should give the kiddo 1/2 of their age for their "commission."
So...my 10 year old will do 5 jobs (at $1 each) to earn $5.
If she doesn't want to do them that week...she doesn't earn the money.
Some of the weekly chores will stay the same, but others will change each week, depending on what needs to be done.
I used an old window and a dry erase marker so that I could change them easily.
The K E and A are my kiddos initials.
I am hoping this chore chart, the "commission" and teaching our kiddos about money is effective.
Do you have any suggestions?
How do you teach this valuable lesson?