- June 20, 2008 at 4:32 pm #258518
We have a “family tax” jar that the kids have to chip in 10% of any money they make by working (allowances, extra chores, etc – gifts don't count). Then when the jar starts to fill up, we use that money for a family treat – ice cream, a movie, nothing big but something that a) gets them used to the idea that they will be giving a portion of any income they make to someone else (taxes, health plan, etc) but that b) everyone benefits together. It's not big money but they're also learning how quickly small amounts add up.
We (parents) used to contribute to this jar too with extra income but now we put that money directly against our mortgage instead. Again, its not big amounts but we've knocked about 7 years off our mortgage already – it should be paid off in time to start thinking about college tuition
On Thu, Jun 19, 2008 at 10:24 AM, Tammy <email@example.com> wrote:
I also keep a can of change. I don't ever spend my change and store the quarters and dimes in my 'secret place' for things I want that I would never buy because we can't afford it or for emergency money and put the pennies and nickels in our family room so that the kids can grab some money if they want to fit in with a soda or whatever with their friends.That has worked best for us and I've found they really think about how much and what they spend the change on.They can also see how much money is in the
container, so I really think they've got a sense of 'do I want to use this now or later'. (Of course I'd get the change convertedinto larger amounts before the zoo trip.)
When there is no wind, row.
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