Posted by carolmanw on January 10, 2001 at 16:38:20:
In Reply to: 7 year old... posted by Donna on January 09, 2001 at 06:30:11:
give him chores to do around the house and give him an allowance but in giving him an allowance you need to also teach him how to save and spend. my granddaughter gets an allowance but if she doesnt do her chores she doesnt get paid either. she has 3 banks one for tithing, one for short term savings, one for long term savings, when she gets money 10 percent goes into the tithing bank that is the amount she decided on when getting the allowance, the rest is divided between the other 2 banks, now when she wants a video, or to go skating or to take shopping with her to the dollar store she is allowed to go get whatever money she wants out of her short term savings bank, this is really nice because when were in the grocery store and she wants something out of the gum machine I just say did you bring your money? you can if you brought your money, if she says no i tell her well its your responsibility to bring or care for your money, and that ends it I do not under any circumstance let her borrow money from me till we get home she sometimes trys this if we are stopping somewhere and she didnt know she will use this, but I still say no because she needs to learn if she is going somewhere she should be prepared to be responsible for her wants. (of course she never has to pay for her own meal or something if we are going out, but if she is wanting a cookie from the specialty mall when we shop she pays with her own money) the long term bank she is not allowed to take money out of till a reached goal is made. her last big goal was a fort type thing in the back yard with a slide and rope to swing on she bought the material and her and papa built it together but she paid for all the lumber and stuff and boy is she proud of it. hope this helps