January 22, 2013

Encouraging Kids to Save Money

I’ve decided I’m tired of my kids asking to buy everything they see when we run errands.  It’s time to start teaching them about the value of a dollar.  They do have a chore chart but we haven’t implemented it yet.  I’ll share that soon.  For now, my kids get money from birthday’s, Christmas, and the odd job around the house.  To encourage them to save and help track it I printed a couple thermometers and labeled it in $10 increments up to $100 (my daughter thinks she wants to save for an American Girl Doll).  I also hung a bucket from Target dollar spot below to put hold their money.  This was hung on an empty narrow wall between my half bath and kitchen.  As they receive or earn cash they can color in the thermometer and add it to their bucket.
Saving and Tracking money for kids {A Sprinkle of This . . . . A Dash of That}
Not sure what my son is saving for.  At this point he loves putting it in his bank for stickers, popcorn, and popsicles and I’m ok with that!  My kids savings accounts are awesome.  For every $10 they get a sticker and once their passbook is full they get a $10 gift card they can spend anywhere.  They also get free popcorn and sometimes popsicles just for walking in.  Another bonus is several times a year we get discounted passes for fun events that aren’t open to the general public.  One was the Magic House and another one was the City Museum.  If you’re ever in the St. Louis area I highly recommend it!!

No comments:

Post a Comment