It makes the world go round, but what exactly is a healthy relationship for a child and the almighty dollar?
This post has been on “hold” for months. It it s very interesting and complicated subject, even at an early age. Clearly kids observe and notice (everything) and certainly all the talk about what things cost and value and well,
We decided to give Luke a small allowance quite awhile ago as a way to help him understand the value of money, he would save enough and then he could buy something of his own choice, which would always be “a Lego set from Target“.
Well, it kinda back fired as Luke started hoarding money. First he raided our coin jar, then he “pilfered” some dollars from mom and dad and there was way too much talk about money in the house, so we decided to put the pause button on this whole money thing.
There was also the added confusion of going to Target with the intent of allowing Luke to get something for himself, then me always feeling a bit guilty and saying I would “round up” his savings and allow him to purchase something slightly more expensive than what he could afford. That he would give his money to me and I would make up the difference at the checkout lane using my credit card. Bad idea Dad. This was very confusing to Mr Luke and resulted in him feeling like I had just stolen his money from him.
Back to the pause button, which worked just fine. A few months later mom and dad felt it was “safe” to resume a financially based concept in the household opted for a new tack. A payment for the weekly chore of taking out the garbage.
Now the childhood development people we trust and listen to have said never to mix allowance or payment with household chores, the chores are done for the benefit of the family, not for financial gain, and I agree, so perhaps we are headed for yet another fiduciary impasse, only time with tell,
The other day Luke brought his money bag to Target, picked out something he could afford, counted out all the change at the register, got his change (one penny) and a receipt and he clearly felt really good about the whole thing, No complaints, no confusion.
Which for today is all we want.