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Allowance for Children
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<blockquote data-quote="Mattsmom277" data-source="post: 366246" data-attributes="member: 4264"><p>I can't get Matt to come with me anywhere to shop. Not for clothes, groceries, nothing.</p><p></p><p>With easy child, its just part of our world. She is often with me while I run errands, pay bills, buy food, buy treats, clothes, needs, wants, etc. I have never had a particular budgeting talk. I've sort of evolved to teaching her by her seeing what I do. She sees me look at flyers and compare prices, look for bargains. I'll explain why its a bargain. I'll explain when something is not a bargain and why we are walking away without buying it. I dont' share my incoming finances with her, but I do share my outgoing finances when it crops up. So if I"m off to the bank to pay bills, I try to use cash instead of a debit card. So she can physically see how much it costs. If I pay the gas, electric, phone, internet, sattelite all at once? She sees a HUGE stack of bills dwindle to nothing. Its a terrific dramatic affect at her age to see that kind of cash in a stack, the gone. And I am always sure to let her know thats only for one month of those services, the bills come again in 4 weeks. </p><p></p><p>She is very cognizant of money, and she has gotten great at pointing out good deals in the stores and often wants something and then says things like "No way we're paying that". </p><p></p><p>Aside from allowance, a way I teach her about money is at grocery stores. I will give her a set amount of money for school lunch snacks and tell her she needs snacks for the week, or two weeks or whatever. We do my shopping and she can notice things she'd like and price check them while we shop. When we are done my shopping, we backtrack and she decides how to spend the money. I always keep it a bit less to spend than what I think it will cost for what she'd like. That way she usually always has a few occassions to weigh the pros and cons of one snack over another based on price, how many servings, etc. If we don't need lunch snacks, I sometimes just give her a small amount for her at home treats for after dinner (we never have a dessert, but I try to let them have a snack to nibble on later in the evening). Same process as the lunch snacks. She's quite a budgeter my easy child. I laugh at how serious she has begun to take the entire process of commerce. You should see her calculate the savings on shipping costs for her lego sets when she saves for them! She knows over a certain amount spent gets cheaper shipping, she'll combine with coupons for x amount off of purchases over so much spent, and then calculate what full price would have been and what she woudl pay, then start saving for the goal. Gosh I hope she keeps it up as an adult.</p></blockquote><p></p>
[QUOTE="Mattsmom277, post: 366246, member: 4264"] I can't get Matt to come with me anywhere to shop. Not for clothes, groceries, nothing. With easy child, its just part of our world. She is often with me while I run errands, pay bills, buy food, buy treats, clothes, needs, wants, etc. I have never had a particular budgeting talk. I've sort of evolved to teaching her by her seeing what I do. She sees me look at flyers and compare prices, look for bargains. I'll explain why its a bargain. I'll explain when something is not a bargain and why we are walking away without buying it. I dont' share my incoming finances with her, but I do share my outgoing finances when it crops up. So if I"m off to the bank to pay bills, I try to use cash instead of a debit card. So she can physically see how much it costs. If I pay the gas, electric, phone, internet, sattelite all at once? She sees a HUGE stack of bills dwindle to nothing. Its a terrific dramatic affect at her age to see that kind of cash in a stack, the gone. And I am always sure to let her know thats only for one month of those services, the bills come again in 4 weeks. She is very cognizant of money, and she has gotten great at pointing out good deals in the stores and often wants something and then says things like "No way we're paying that". Aside from allowance, a way I teach her about money is at grocery stores. I will give her a set amount of money for school lunch snacks and tell her she needs snacks for the week, or two weeks or whatever. We do my shopping and she can notice things she'd like and price check them while we shop. When we are done my shopping, we backtrack and she decides how to spend the money. I always keep it a bit less to spend than what I think it will cost for what she'd like. That way she usually always has a few occassions to weigh the pros and cons of one snack over another based on price, how many servings, etc. If we don't need lunch snacks, I sometimes just give her a small amount for her at home treats for after dinner (we never have a dessert, but I try to let them have a snack to nibble on later in the evening). Same process as the lunch snacks. She's quite a budgeter my easy child. I laugh at how serious she has begun to take the entire process of commerce. You should see her calculate the savings on shipping costs for her lego sets when she saves for them! She knows over a certain amount spent gets cheaper shipping, she'll combine with coupons for x amount off of purchases over so much spent, and then calculate what full price would have been and what she woudl pay, then start saving for the goal. Gosh I hope she keeps it up as an adult. [/QUOTE]
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