Saturday, August 28, 2010

Earning Money...

Y'all know that Scout's an only child...and we're a family blessed with two good jobs...so it's all too easy to 'spoil' the child by giving him everything he wants...but we really do make an effort not to do this...and I'm afraid we say 'no' to his requests about as often as we say 'yes'...

...so...the other day he was reading one of his (many) fish books and got the idea that he needed a bullhead catfish...

...now for the non-fish-aware - that's a fish that can't live in any of the other THREE aquariums (aquaria) that he already has...so when he asked for it - I immediately said 'no'...

...but, after talking it over with his Papa - we decided that IF he can re-arrange his current aquaria to make room for the new one (without setting anything on the floor) and IF he earns the money himself - he can buy the new aquarium and fish...

...so he got to figuring (I love this little budget) - we don't give Scout an 'allowance' but we do pay him for mowing the lawn (about $10 per week - and we have a very short mowing season) - he apparently already had $37 dollars saved up - it's listed at the top as 'wallet money' - but after all his figuring - he determined that he needed $65.60 - and I LOVE it that he included a tithe in his budget...

...so Scout is on a quest to find moneymaking 'jobs' around the house...

..first up - I let him wash my car...he did an awesome job for his first time solo...

...he did an even better job vacuuming...my car is a LOT cleaner than it was...

...How do you instill the value of money?...

6 comments:

  1. I admire Scout - he has a plan and an excellent work ethic to go along with it!

    Owen has chores he does weekly for a small allowance but if he feels he needs to earn more for a specific reason ( to buy a game, toy, etc.) we offer some additional opportunities to earn like helping stack wood, or helping clean the chicken coop.

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  2. That is awesome!
    I am pretty thrifty myself, so I am trying to instill that in my children. They love to try to find ways to get the most value for their buck.
    My kids don't get an allowance either, but they are paid for odd jobs that they do around the house.

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  3. Hey typing on my iTouch at corning n.y. Hard to type too much. Glad scout is moving on to school. Now Mom can get back to her days working without distraction!

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  4. Good for Scout and you! He is very industrious. I am still trying to figure out the money thing. I want my kiddos to respect that money has to be earned (well for most of us), not to be wasteful but also not to be fearful. It's a lot to think about! Thanks for sharing! Be well, Angela (Peach Coglo)

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  5. Getting what you want on asking for it is miles away from setting a goal and working towards achieving it.

    Setting and achieving goals is excellent preparation for life. Those whose parents give on asking set dangerous lessons for their children. The children don't learn that when you are an adult there is the need to do things for youself. Not knowing how to set and achieve goals is a big disadvantage.

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  6. The girls are small, so we give quarters for extra chores (they don't get paid for picking up their toys). I think the best thing we can give them is to TALK about budgeting and money. We talk about wants, needs, budgeting, priorities, and charitable giving. Money is discussed openly and without emotion on a regular basis so they'll have a life of learning how to manage it.

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