Hard to believe that it has almost been a year since I shared the money series. It's a huge accomplishment for me to actually stick to something that long. Ha! Though we tweaked our system and paydays were not always consistent 2016 paved her foundation in finance Dave Ramsey style.
Even at five going on six this little lady is well on her way. I shared with you the reasons why we give our kids an allowance. We want them to learn firsthand the purpose of money; to give, to spend, to save. I shared our chore system. One quarter per chore, paychecks split into the three categories.
The learning was plenty for the both of us! We had to be responsible and consistent. Yes, I said WE. Most of her chores are contingent on my own so I had to be on top of it. She learned that her work reflected her pay. Continually felt the joy of giving. She LOVED spending. Evaluated cost of things she wanted and even questioned tithing. There were lots of great conversations about money. Paying for chores truly gave her an opportunity to experience money first hand.
I'm most proud that she learned the one thing I failed to in my childhood, the value of saving. I vow to make sure these kiddos see and experience the importance of planning long term. One chore, one quarter at a time she saved up $73 towards her future car [her minivan to be specific hehe]. What a testament to turn 16 and be able to buy her own first car with money she saved since she was five.
Every day we have a choice. We can tell our money where to go or wonder where it went. We can teach our kiddos about finances or hope they'll figure it out when they get older. Choose to take action. If you're interested in Dave Ramsey's plan you can read my reviews HERE and HERE. Other posts related to finances including out own debt free story can be found by clicking the images below. If your resolution in 2017 is to save more money this is a great place to start!