She says:
It is important to us that our kids know how to handle money so we’ve been working on teaching them since they were really little. Basically, when one of our children turned 3 years old they would start receiving a weekly “allowance”. Now the point of this allowance is not so much the money, but the opportunity that it provides to teach our methods of money management. My husband is the “money guy” so he handles paying out the money. The child is given 3 jars to hold money. One is labeled “tithe”, one is labeled “saving”, and the last jar is labeled “spending”. Then, each week as pay day (allowance day) comes, Dad takes each child individually, pays out the allowance, and shows the child how to divide the allowance up so that the appropriate amount goes into each jar. It is fun to see how the kids have caught on to the concept. Another great benefit to this has been our ability to identify our children’s money personalities very early on in life. Our oldest loves to spend and our middle child is a saver. The youngest seems to like to save her money until she can buy the “big stuff”, you know, like a cabbage patch doll.
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