I have never really been fully fiscally responsible. This led to me always playing catch up on just about everything. I knew when that pink GEICO envelope came I had 15 days to pay that bill. Two years ago my boss was talking to someone and said simply “responsible adults pay their bills on time”. My first reaction was eff you lady, but then I wrote it on a post it note and stuck it to my computer. I made a spread sheet of all my bills and all money coming in and got on track. I do not want Julian heading into his 40’s with this same issues!
I bought the jars shown above at Target (my second home) for $3.00 along with liquid chalk to label them. Julian and I went over what each jar was for. When he completes a chore on his “Chores For Money” (list is on previous blog) he has to pick a jar to put the money in. The rule is, if he only picks spend, everything in the end gets donated. My being in the hospital had a great impact on him so he decided that his share will be donated to people that need help paying their hospital bills. His save was deposited today in the tune of $13.45. Julian also decided it was time to open the spend jar and head to target with the money he earned. It took him over an hour to decide what his $15.00 would get him. He finally decided on Legos and a stocking for Grandma!
Do you have your kids save money? Do they get to pick how much they save? I’d love to know how others teach good spending habbits.