Making It Happen Dr. Rita Littrell Director Bessie B. Moore Center for Economic Education
Family Citizen Jobs Task:MondayTuesdayWednesdayThursdayFridaySaturdaySundayTotal Put dishes away Make bed Food/pets Homework Date: ___________ Keaton’s Income Chart Amount Due: _____________ Will be put in saving account and can be accessed through spending card. Family Citizen: These things are done because everyone works together to make our family functional and to keep our home clean and a desirable place to live.
Allowance Task:MondayTuesdayWednesdayThursdayFridaySaturdaySundayTotal Piano Spanish Handwriting Trash Scruffy play Wash dishes Fold clothes 3 fruits Swimming Exercise Watering plants Allowance: Allowance will total $15 per week if 90% of these jobs are completed without much prompting.
Extra Income Extra Pay: Extra pay can be accumulated each week by performing these tasks. Task:MondayTuesdayWednesdayThursdayFridaySaturdaySundayTotal Feed birds $1 Feed fish am $1/4 Mow yard $10 Yard work $5 Foot massage $1 Other
Payment For young kids I would use something physical: jar, piggy bank, envelopes --- pay with cash. Cash that can be divided. Savings account Spending card Government issued ID
Earnings What can you do with money? Spend Save Share
Saving Goals What does your child want to buy or do? Determine how much it costs. How long until s/he reaches the goal? Are there additional revenue sources?
Spending Decisions Teach good decision making skills. Research options and compare prices. Consider the utility or satisfaction.
Sharing Great options for children Heifer International Give money or time Discuss feelings from
In Summary: Set family saving goals. Discuss spending decisions with family. Establish system where children earn, save, spend and share their money. Use economic and financial terms: Job instead of chores Revise as needed. Remember that incentives work!