retiringby50
Recycles dryer sheets
- Joined
- Nov 26, 2007
- Messages
- 170
For those of you who taught your kids about money in a more systematic way, what did you do? DD is 10. She's had her allowance for a while... VERY little... 10 dimes a week. She has three jars, 1 dime in the SHARE jar, 1 dime in the SAVE jar, and 8 dimes in the SPEND jar. SHARE is for offering, gifts, etc. SAVE is for whatever she's saving for at the moment. She also gets birthday and Christmas money from grandparents.
We have the normal discussions about not buying impulsively, waiting for a sale, etc. When she knows she has to spend her money at the store, she will sometimes decide that she doesn't need the item, obviously compared to when we are buying it for her. There are other times when we're open to buying something for her (like a hair band at Target), and she'll decide she doesn't need it, so I think she's on the right track about making decisions, at least in a 10 year old mind.
But when do we introduce other things to her, and what are those other things? She has money in a CD that DH is in charge of (and he's bad at it! - always forgets to check for better rates). She has a savings account with me, so she sees the amount growing because of the interest, albeit extremely low.
Is there a good book to consider? What else?
We have the normal discussions about not buying impulsively, waiting for a sale, etc. When she knows she has to spend her money at the store, she will sometimes decide that she doesn't need the item, obviously compared to when we are buying it for her. There are other times when we're open to buying something for her (like a hair band at Target), and she'll decide she doesn't need it, so I think she's on the right track about making decisions, at least in a 10 year old mind.
But when do we introduce other things to her, and what are those other things? She has money in a CD that DH is in charge of (and he's bad at it! - always forgets to check for better rates). She has a savings account with me, so she sees the amount growing because of the interest, albeit extremely low.
Is there a good book to consider? What else?
