Show ME the MONEY

My husband and I have been tossing around the idea of an allowance.  To give or not to give is the question at hand.  We want the kids to learn how to save money, but should they receive money without earning it?  We have chores that the kids are required to do because they are a part of this family. I don’t believe that I should pay them for cleaning their rooms, picking up after themselves, and putting away their laundry.  Also, we are on a tight budget, the last thing we need is another monthly bill.

Since, we don’t give money just to give it. The kids have become entrepreneurs.  Which I think is great!  We do hire them to do “contract” work around the house. The kids will ask if there is any work they can do for a little money.  We do have a few rules to their contract work.  First they have to have all their regular chores done. Second, mom, dad or even grandparents will pay what they think is fair. If we left it up to the kids, vacuuming the living room could run me 50 bucks, instead of its usual dollar.  This has been working out really well. It is nice to get a little extra help around the house.  The kids are learning to work for money; they are learning how much work it takes to keep the house clean (I am appreciated a little more) and how to save their money.  Getting the kids to help out is a little easier and they are quick to get their regular chores done so less fighting on that front.

I mentioned entrepreneurs in the last paragraph. The kids have taken to earning money and have tweaked it a little.  Last weekend, my oldest made several drawings and little craft items.  He made up a price list. He packed it all up and took it with him to our weekly dinner with grandparents. Genius!  He made a profit of $6.00.  This isn’t the first time he has set up shop. If he is saving up for something he really wants, he gets creative about it.  I wish that I had his courage to just set up shop and start making money. I am so encouraged by his attitude toward making money. If you need or want something find away to earn it, simple but brilliant at the same time.  

The Moral of this story, you never know what your kids will teach you.  We spend so much time talking to them, it is important to stop and listen as well.