And all thy children shall be taught of the Lord; and great shall be the peace of thy children. Isaiah 54:13 KJV

Wednesday, August 22, 2012

Kids and Money

Kids and money..... this is a topic that has just made me sigh for the last few years. I want to teach my kids about money, I want them to learn to be responsible with their money, I want tithing to be a natural discipline for them BUT we have tried so many things and they have never worked. We've done chore charts, chore sticks, allowances, and all that jazz. Either the kids didn't care about the money, I felt like we were paying them to do things they should do anyway, or we would all just give up after the first week.

I have been so blessed by the wonderful books I have read the last few weeks that when I saw The MoneySmart Family System I felt a glimmer of hope. Maybe this will be something new, something that works! After reading the book and starting the system I am so EXCITED! Steve & Annette Economides are  parents. This is so following the trend of some of the other books I've recently reviewed. These are just real people! A real dad and a real mom who set out years ago to teach their kids responsibility not just with money but in everyday life.

Their system is simple, it's a points system that will equal a very reasonable allowance at the end of each week for your children. It's an allowance we can afford which is saying a lot in these times. They use a 10/20/70 equation to get their children on the road to tithing, saving, and spending wisely. We started the system this week and my kids are enjoying it! They really like the wish lists and they are competitive enough to make earning their points into a game. Wait don't get scared of the points! I told you it was easy, we are talking 4 points a day each. Now the book does talk about bonus points and I think we will eventually add those in but for these first few weeks I just want Apple and Speedy to concentrate on the main points.

One point is based on chores and this is something we have struggled with. Honestly our kids are very good at "chores" but most of them are things we just expect them to do. The book addresses this idea that our kids need to learn that you have to make your bed, do laundry, etc just to live. However they need to learn to do those things well and it's a process so rewarding them a little won't make them feel entitled. Ahh entitled. A word I have shouted many a time when I feel frustrated with people who expect the world to be given to them. Entitlement is exactly what the Economides were fighting! Children are at a HUGE disadvantage for life when parents teach them that they "deserve" everything for nothing. When mommy or daddy always rushes to the rescue then that will never end. Those kids will still be running to mom and dad when they are 60. {Rant over}

If you have kids and you have struggled with teaching them financial responsibility please pick up this book. You will not regret it. Hubby & I have had to learn tithing together as an adult and it is not easy! Give your kids a leg up by making it a habit for them now.

I received this book from Booksneeze for the purpose of review. All opinions are my own and I was not obligated to write a positive review.

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