Potentially an interactive chart that has a checkbox once a chore has been completed (kid) and a checkbox once a chore has been reviewed (adult/sibling), followed by a deposit once reviewed with a visual representation... maybe there’s a business idea in here?
As a father of a 14 month old, I hadn't thought of this yet, but your point around the cashless society is a good one. Kids don't have sound economic understanding. Nor do some almost-35 year old adult men named Sam.
I guess though the lesson is about planning for the future and not falling for the lure of greed. I love growing vegetables. Every afternoon I take my son into the backyard and we check on them and then water them. Perhaps I could teach him that sure, we could take this small zucchini right now, but we don't need it right now. If we leave it where it is, an environment conducive to growth, and return in a couple of days, that same zucchini would have grown and will be of more value to us.
I'm sure there's many other ways, but that's the best I've got at the moment.
"Nor do some almost-35 year old adult men named Sam." This made my giggle.
It's true, I've heard someone tell their kid they couldn't afford to buy X and their kid said, just use the plastic card, or sometimes they've said go to the money machine in the wall haha.
That’s funny, but also speaks to the importance of explaining money to kids hey. They think the plastic card or wall machine means infinite supply of money!
The barefoot investor has a bit to offer here with his ‘Barefoot Kids’ book that establishes a Spend, Save & Give piggy bank practice. We’ve started it with our 6 year old and it’s taking some time but is setting a good foundation still bedded in cash (all his cash comes from collecting cans/bottles so it’s real money. But there is still an impulse of I want to buy the first thing I see we have to manage).
When I grew up, I got gifts for birthday and Christmas. If I wanted anything in-between I had to buy it with my own money. I usually got gifted money from my relatives and I remember purchasing my own bike when I was 7 years old with money I had saved. I also bought my own cars. As did my siblings. Working for it, saving and then buying what you want teaches you what things are worth and gives you the satisfaction of working, saving (patience) and then buying it all by yourself.
These days kids get whatever they want when they want. There's something special about buying it yourself and you care a lot more about looking after it. I remember overhearing someone in class one day that they had crashed their car and it was followed with "oh well, mum and dad will just buy me a new one".
I remember in primary school we used to do our banking at school, I think it was the dollarmites program with the Comm Bank. My pocked money was something like $2 a week, half of that went into my bank account.
Perhaps chores need a dollar value, the bigger the chore the more money that can be earned. I had a patient who were rebuilding their stairs at home and her husband didn't want to pull out all the nails so he said to their son, I will pay you $1 per nail, and their son was to count the nails and invoice his Dad to get paid. I really liked that concept too.
Potentially an interactive chart that has a checkbox once a chore has been completed (kid) and a checkbox once a chore has been reviewed (adult/sibling), followed by a deposit once reviewed with a visual representation... maybe there’s a business idea in here?
As a father of a 14 month old, I hadn't thought of this yet, but your point around the cashless society is a good one. Kids don't have sound economic understanding. Nor do some almost-35 year old adult men named Sam.
I guess though the lesson is about planning for the future and not falling for the lure of greed. I love growing vegetables. Every afternoon I take my son into the backyard and we check on them and then water them. Perhaps I could teach him that sure, we could take this small zucchini right now, but we don't need it right now. If we leave it where it is, an environment conducive to growth, and return in a couple of days, that same zucchini would have grown and will be of more value to us.
I'm sure there's many other ways, but that's the best I've got at the moment.
"Nor do some almost-35 year old adult men named Sam." This made my giggle.
It's true, I've heard someone tell their kid they couldn't afford to buy X and their kid said, just use the plastic card, or sometimes they've said go to the money machine in the wall haha.
Haha, glad ya like it.
That’s funny, but also speaks to the importance of explaining money to kids hey. They think the plastic card or wall machine means infinite supply of money!
The barefoot investor has a bit to offer here with his ‘Barefoot Kids’ book that establishes a Spend, Save & Give piggy bank practice. We’ve started it with our 6 year old and it’s taking some time but is setting a good foundation still bedded in cash (all his cash comes from collecting cans/bottles so it’s real money. But there is still an impulse of I want to buy the first thing I see we have to manage).
When I grew up, I got gifts for birthday and Christmas. If I wanted anything in-between I had to buy it with my own money. I usually got gifted money from my relatives and I remember purchasing my own bike when I was 7 years old with money I had saved. I also bought my own cars. As did my siblings. Working for it, saving and then buying what you want teaches you what things are worth and gives you the satisfaction of working, saving (patience) and then buying it all by yourself.
These days kids get whatever they want when they want. There's something special about buying it yourself and you care a lot more about looking after it. I remember overhearing someone in class one day that they had crashed their car and it was followed with "oh well, mum and dad will just buy me a new one".
I remember in primary school we used to do our banking at school, I think it was the dollarmites program with the Comm Bank. My pocked money was something like $2 a week, half of that went into my bank account.
Perhaps chores need a dollar value, the bigger the chore the more money that can be earned. I had a patient who were rebuilding their stairs at home and her husband didn't want to pull out all the nails so he said to their son, I will pay you $1 per nail, and their son was to count the nails and invoice his Dad to get paid. I really liked that concept too.