Monday, August 8, 2011

Update from the Allred's

A while back, I posted about how our family was using the Moonjar as the reason to organize a chores program in our house this summer.  The original post is here.  We've been at it for over a month now and here's a few things we've learned along the way. 

  • The chores have revealed the way our kids currently think about money.  Meaning - their actions and attitudes surrounding the program are telling us how they are wired.  Are they spenders, savers, counters?...  What motivates them?  In our case, the kids are very different.
  • Knowing the differences has helped us guide them individually.  What helps one learn isn't exactly working for the other and vice-versa.
  • As the weeks have passed and paydays have come and gone, the kids are becoming more aware of how their own actions affect their financial freedom the subsequent week.  It has been supremely effective to have one child who blew off chores the previous week have to leave Barnes&Noble empty-handed while her walks out with some item she bought with her own money.
  • In a related note, it has been wonderfully re-affirming to see the wealthier of the two sometimes offer to buy her sis an ice cream cone even though she was under no obligation to do so.  
 We're now spending a good deal of time talking about what our kids will do to share with others this month (monetarily or otherwise) and it has been really fun to do so.  All because of a goofy three part money box.  Pretty cool.

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