I am in the midst of a personal finance class - one of the most recent topics being kids and money. It, combined with a recent request for a Jonas dog, inspired me to implement a new cash for chores program for Morgan. May I introduce:
and
Morgan now has a list of 5 tasks she can complete each week.
Two of them are once a week gigs and bigger tasks hence the higher value. The others are every day items... The reasoning behind the paper money is two-fold. One, I have something to give her on the spot (a suggestion in the class for small people - so they can see the immediate reward). Two, I am rarely if ever in possession of actual cash - although I am sure I will be better about that from now on. And, the conversion of quarters into dollars could be a pain later - so this will just add up to dollars at the end of the week, month, etc...
Her new cash for chores system allows her to use the money both to save and to buy things she wants. I think it will be interesting to see if she still wants the $25 dog after she has to work for a few weeks and wait to earn the money.
Overall I am hoping that she will learn a few things from this process -
* helping around the house and a sense of personal responsibility
* that it takes money to buy things and real work to earn the money
* patience.... she is actually fairly patient, but I think this could further that virtue
So far she is very excited to do chores and asks for extra chores above and beyond those listed on the chart. She was quite helpful in her room cleaning yesterday and with her bed sheet laundering. The only thing I wonder is - when does a quarter stop being "a lot of money" to a little person... :-)
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