Last night for FHE we introduced our kids to our new family money plan. We are incorporating what we're learning from Dave Ramsey and exploring our inner nerdiness. It actually works great because the system includes teaching the principle of work and teaching money management: two birds, one stone.
The kids were so excited!
Every big kid in our family now has five jobs a day. Mostly simple stuff, but if they do it, they earn a commission. Of course, most of what they do is simply because they are a member of this family, but we are trying to teach them how to handle money, so they need a way to EARN money. They each have 3 envelopes to learn to budget: give, save, and spend. They couldn't wait to decorate their envelopes!
I think they did a great job. They were so excited to see the system up and running today! The money is up with their check-off box on the board so that they can see the incentive. They also have the opportunity to earn more if they so choose, there are three extra jobs in the board.
They did awesome today. I know things burn hot at first and can peter out, but I think it's a great system for us. We even rearranged our family budget to make room for it. I'm really excited. I sure love these little workers!