Comments on: A Preschooler’s Allowance http://simplemom.net/a-preschoolers-allowance/ Live intentionally. Sat, 11 Feb 2012 10:04:54 +0000 hourly 1 By: Janet http://simplemom.net/a-preschoolers-allowance/comment-page-1/#comment-142054 Janet Tue, 30 Aug 2011 18:35:06 +0000 http://simplemom.net/?p=125#comment-142054 We started both of our children on an allowance around age 3. The first amount was 30 cents: 10 cents for charity (church collection plate usually), 10 cents for savings, and 10 cents for spending. Second amount was 75 cents. Same principle with quarters. We had a rule that after 10 weeks, they could spend their savings if they wanted. We kept it in a cleaned out peanut butter jar so that they could see the coins accumulating! As soon as they figured out that they could have double the money & buy something decent, most of the time they elected to put their spending money in the savings jar as well. Once in there, it could not be removed until the 10 weeks were finished. Now they had enough money for a toy, a book, or a puzzle. The biggest show of success of this method was our daughter. When the American Girls dolls first came out, her grandmother bought her Samantha. When they came out with Addie, she desperately wanted her. We thought that was too much money to spend on a second doll, but we told her that if she could save 1/2, we would match it. This was about $100 ($50 for her half). For approximately a year she saved EVERY bit of money she got (allowance, birthday money, etc) (all placed inside the new "Addie" jar) and finally had saved enough to purchase Addie and her books. She was so proud that she bought the doll herself. It was an incredible life lesson of the benefit of savings. We started both of our children on an allowance around age 3. The first amount was 30 cents: 10 cents for charity (church collection plate usually), 10 cents for savings, and 10 cents for spending. Second amount was 75 cents. Same principle with quarters. We had a rule that after 10 weeks, they could spend their savings if they wanted. We kept it in a cleaned out peanut butter jar so that they could see the coins accumulating! As soon as they figured out that they could have double the money & buy something decent, most of the time they elected to put their spending money in the savings jar as well. Once in there, it could not be removed until the 10 weeks were finished. Now they had enough money for a toy, a book, or a puzzle.
The biggest show of success of this method was our daughter. When the American Girls dolls first came out, her grandmother bought her Samantha. When they came out with Addie, she desperately wanted her. We thought that was too much money to spend on a second doll, but we told her that if she could save 1/2, we would match it. This was about $100 ($50 for her half). For approximately a year she saved EVERY bit of money she got (allowance, birthday money, etc) (all placed inside the new “Addie” jar) and finally had saved enough to purchase Addie and her books. She was so proud that she bought the doll herself. It was an incredible life lesson of the benefit of savings.

]]> By: Carole http://simplemom.net/a-preschoolers-allowance/comment-page-1/#comment-136048 Carole Wed, 15 Jun 2011 15:51:49 +0000 http://simplemom.net/?p=125#comment-136048 Hi Tsh - We have been doing the 3-jar system for awhile but found that a 2-jar system is how it is turning out simply because our son's "spending" jar has become the same as his "saving" jar - he saves it all towards whatever he has determined he would like. We have a little chart that accompanies his spending/saving jar so that he can watch how he is getting closer to his goal. This system has been so helpful as we have been out and about - there are so many random things out there that appeal to children, but when we say, "Yes, you have the money to buy that, and that would be fine. But are you sure you want that more than (for example) the Lego star wars set?" the answer is consistently "No, I want the Lego star wars set," and the item at hand loses its immediate appeal. That power of choice has been so great for our kids and they value so much more the toys that they have saved up for and bought themselves! Hi Tsh – We have been doing the 3-jar system for awhile but found that a 2-jar system is how it is turning out simply because our son’s “spending” jar has become the same as his “saving” jar – he saves it all towards whatever he has determined he would like. We have a little chart that accompanies his spending/saving jar so that he can watch how he is getting closer to his goal. This system has been so helpful as we have been out and about – there are so many random things out there that appeal to children, but when we say, “Yes, you have the money to buy that, and that would be fine. But are you sure you want that more than (for example) the Lego star wars set?” the answer is consistently “No, I want the Lego star wars set,” and the item at hand loses its immediate appeal. That power of choice has been so great for our kids and they value so much more the toys that they have saved up for and bought themselves!

]]> By: Blog Surfing… - L.I.F.E by Ashley Pichea http://simplemom.net/a-preschoolers-allowance/comment-page-1/#comment-122712 Blog Surfing… - L.I.F.E by Ashley Pichea Mon, 14 Mar 2011 19:18:52 +0000 http://simplemom.net/?p=125#comment-122712 [...] on starting your kids young (preschoolers) on managing money… I’m going to have to start considering this with [...] [...] on starting your kids young (preschoolers) on managing money… I’m going to have to start considering this with [...]

]]> By: Frugalness 4 Mom | Freebies 4 Mom http://simplemom.net/a-preschoolers-allowance/comment-page-1/#comment-90619 Frugalness 4 Mom | Freebies 4 Mom Thu, 17 Jun 2010 05:47:16 +0000 http://simplemom.net/?p=125#comment-90619 [...] A Preschooler’s Allowancefound on Simple MomI love the idea of starting an allowance early with your kids, and offering them chores to complete to earn their allowance. A great way to teach money skills early, I’ll be starting this with my preschooler soon. Simple Mom also has this giveaway for a custom-made necklace, it closes on May 25. [...] [...] A Preschooler’s Allowancefound on Simple MomI love the idea of starting an allowance early with your kids, and offering them chores to complete to earn their allowance. A great way to teach money skills early, I’ll be starting this with my preschooler soon. Simple Mom also has this giveaway for a custom-made necklace, it closes on May 25. [...]

]]> By: Dealing with Behavior Issues http://simplemom.net/a-preschoolers-allowance/comment-page-1/#comment-89449 Dealing with Behavior Issues Wed, 19 May 2010 22:48:06 +0000 http://simplemom.net/?p=125#comment-89449 [...] put in a binder} so that I can use a transparency (wet-erase) marker to give her stars. As per Tsh’s explanation, we give her a nickel for each star and she splits her money into three banks/jars (saving, [...] [...] put in a binder} so that I can use a transparency (wet-erase) marker to give her stars. As per Tsh’s explanation, we give her a nickel for each star and she splits her money into three banks/jars (saving, [...]

]]> By: 20 Indoor Activities for Kids – besides TV http://simplemom.net/a-preschoolers-allowance/comment-page-1/#comment-59559 20 Indoor Activities for Kids – besides TV Mon, 17 Aug 2009 11:19:28 +0000 http://simplemom.net/?p=125#comment-59559 [...] a blast to help Mom with the chores — but even if they don’t think it’s fun, it’s good for them to do chores anyway.  It teaches kids that running the house is a family effort, and that life involves work (and [...] [...] a blast to help Mom with the chores — but even if they don’t think it’s fun, it’s good for them to do chores anyway.  It teaches kids that running the house is a family effort, and that life involves work (and [...]

]]> By: Emily http://simplemom.net/a-preschoolers-allowance/comment-page-1/#comment-58075 Emily Thu, 30 Jul 2009 05:43:59 +0000 http://simplemom.net/?p=125#comment-58075 I love this idea, but do you have any suggestions for what to do when the 2 year old wants what his big brother gets? I can't figure how how to handle that problem! .-= Emily´s last blog ..<a href="http://laundryandlullabies.blogspot.com/2009/07/art-lesson.html" rel="nofollow">Art lesson</a> =-. I love this idea, but do you have any suggestions for what to do when the 2 year old wants what his big brother gets? I can’t figure how how to handle that problem!
.-= Emily´s last blog ..Art lesson =-.

]]> By: LuLu http://simplemom.net/a-preschoolers-allowance/comment-page-1/#comment-56400 LuLu Mon, 15 Jun 2009 16:20:03 +0000 http://simplemom.net/?p=125#comment-56400 This is something my parents did with me as a child, well not so much the giving and savings, but an allowance and allowing me to make my own decisions with it. As a small child it was normal for me to have more money than either parent :) I was always a big saver and penny pincher! This is something I will definitely be doing with my children. As a Dave Ramsey Fan I agree its okay to let our kids "settle" with "Kinda Had a Party Barbie" if they can't afford celebration Barbie or wait until they can afford it. If we don't teach them that they'll always go for the instant gratification method in life. This is something my parents did with me as a child, well not so much the giving and savings, but an allowance and allowing me to make my own decisions with it. As a small child it was normal for me to have more money than either parent :) I was always a big saver and penny pincher! This is something I will definitely be doing with my children. As a Dave Ramsey Fan I agree its okay to let our kids “settle” with “Kinda Had a Party Barbie” if they can’t afford celebration Barbie or wait until they can afford it. If we don’t teach them that they’ll always go for the instant gratification method in life.

]]> By: Jennifer http://simplemom.net/a-preschoolers-allowance/comment-page-1/#comment-55974 Jennifer Sun, 07 Jun 2009 20:48:22 +0000 http://simplemom.net/?p=125#comment-55974 This is all good but I don't know how we would go about doing it with 3 kids all a little over a year and a half apart - the oldest turns 4 in a month - when the middle child doesn't "get it" but knows he wants EVERYTHING his brother gets. I think we may start this when the baby is old enough to understand so we only have to introduce it once instead of three times. The different levels of comprehension drives me nuts some days. <abbr><em>Jennifer´s last blog post...<a href="http://www.davejenbarnes.com/wordpress/archives/2560" rel="nofollow">Who What When (Where) Why and How of our cloth diapering</a></abbr></em> This is all good but I don’t know how we would go about doing it with 3 kids all a little over a year and a half apart – the oldest turns 4 in a month – when the middle child doesn’t “get it” but knows he wants EVERYTHING his brother gets. I think we may start this when the baby is old enough to understand so we only have to introduce it once instead of three times. The different levels of comprehension drives me nuts some days.

Jennifer´s last blog post…Who What When (Where) Why and How of our cloth diapering

]]> By: Uber Links (2/7/08) | Uber Parents http://simplemom.net/a-preschoolers-allowance/comment-page-1/#comment-34014 Uber Links (2/7/08) | Uber Parents Sat, 07 Feb 2009 10:14:13 +0000 http://simplemom.net/?p=125#comment-34014 [...] A Preschooler’s Allowance A great article if you’ve been thinking about doing this.  [...] [...] A Preschooler’s Allowance A great article if you’ve been thinking about doing this.  [...]

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