They get paid a few dollars a week and what I've been doing is ever so often I'll say, "Okay, you've probably been paid enough to put a dollar in the offering plate for your tithe." Not a good system.And if they ever ask to buy something at the store, I always say no because I don't want them to spend all their money. Or I don't want them to think that just because there is money in their wallet, they should spend it.
Well my friend had this great idea to keep up with her cash envelope system. She went to the dollar store and bought a coupon folder (the kind that will fit in your purse). After she's sorts her cash into envelopes labeled "groceries", "pet care", etc., she then slips them into her little coupon folder. Before heading out, she can either grab just the envelope she needs or take the whole coupon folder with her.
So, like I always do when I see a great idea, I stole it! Not her coupon folder, the idea!
Now, when I pay the kids, they automatically give me their tithe money from change they keep in their wallets. I put it in individual envelopes for them to put in the offering Sunday morning.Then they can divide their money up between spending, saving and gifts. The spending money goes in their wallets. That way if we've decided they can buy something when we go to the store, they just take their wallets.
Their savings and gift money goes in a coupon organizer. They can either save up for something big now or put the money in their bank accounts. Emma's saving for a horse ranch one day so she's serious about putting it in the bank.
Their gift money is for them to use when they want to buy birthday gifts for each other or gifts for family at Christmas. 
What about you? What do you do with your kids' money?
5 comments:
We do something very similar. Our kids get Soles (not dollars) and each week daddy sits down with them and they figure out what their percentage is for tithe and also for saving. They can do with the rest of their money as they please. But the Tithe and savings is a set percentage. They each have an envelope for their tithe and savings and they know that this comes "off the top." They have their own wallets, that we keep in a cabinet so they know where to find it. Unfortunately, our 6 and 4 year olds DID NOT have the emotional maturity to handle the money thing, so for now we only do it with the 9 and 8 year old. I do like the coupon book idea. I'll run it by hubby, but finding them here is probably futile.
I am clueless about teaching the kids about money!! I am so glad I read this today!! We just sat down recently and talking about Savings Goals, we wrote them on index cards and I think I will stick them in the coupon holder/money file and we can "revisit" the goals periodically throughout the year!
Very timely. I had a woman in my home today who needed help teaching her boys how to use the money that was given to them as gifts, allowance, bottle returns etc. I showed her your blog and was very encouraged by it. It gave her the 'how to' she needed, exactly when she needed it. Thank you again for your encouragement and inspiration that I could pass on to someone else, and thank God for His perfect timing.
That's a neat idea... just don't lose your hand dandy little filer!
Um, I've been doing exactly what you described before you implemented this new system. :) I like this idea. We'll have to get working on it!
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