Tuesdays Tips

This is something that I have been meaning to do and now I thought – now is the time!

Every time I am shopping or in a store my 6 yr old daughter starts to beg and plead for a toy that she wants.  There was one in particular that she just loved.  I realized that she is getting older now and should understand that if you want something really bad you need to earn it and work for it.  We already had a separate savings bank and tithing bank for  any money that she has received, i.e. birthday money, monetary gifts, etc.

So I decided to assign a separate piggy bank as her spending bank.  Now she has 3 banks: Spending (for one gift only); savings account bank; tithing bank.  We discussed that if she wants to save her own money for something special that she wants, she will have to earn it by having assigned chores to do around the house.  This has really motivated her to help around the house and it has helped me to get things done! (i.e. 10 cents to groom and play with the dog; 10 cents to clean her room each day).

She is also learning about what employers are looking for: a hard worker with a positive attitude.  Today, I had a negative attitude and shared feedback just like an employer would on her attitude and that in the real world, understanding what are good qualities to have to get a job later in life.  She had 25cents deducted from her earnings that day because of her negative attitude -demoted from her job.  She did not like it but understood.  It was also a good time to assert that she needs to do other chores that are expected of her when she does not get paid.  (We had to draw a line on it somewhere.  These kids are too smart and catch on quick!)

This gave us an opportunity to review the meaning and understanding of tithing and fast offering which we did as a FHE topic.  Each time she earns money we sit down and count the money out  and allocate a portion for tithing.  She does the actual counting and tallying of the money and records it on her “bank sheet” that she made up.   She is learning about percentages, counting the money and understanding the coinage, etc. but also learning to earn money and save for tithing.  We also plan to visit the bank and open a savings account for her.

Eventually when she is older we will have discussions about savings plans for school, how to use and not use a credit card, etc.  but at least this is a beginning of learning to budget, save, and understand the meaning of tithing and why we fast.

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