Peanut has a little tin with Winnie the Pooh on it that she uses as a place to keep her money, mostly change and some dollar bills. From that she takes one dollar each Sunday as an offering for church. As soon as she begins to get a regular allowance I’ll teach her about tithing. Right now with school, she has time to do her regular chores and little time for extras from which she can earn money.

The bank we use has special savings accounts for children. She has one set up already where she’s deposited birthday, Christmas and other gift money. They send her newsletters about saving money. I’m teaching her about how to budget for things that she wants, to earn extra money and all of the other things that come along with finances. I’ve been sure to teach her about not spending money on things that are spur of the moment ideas. So when she comes to me with an idea to purchase a new video game, for example, I have her go over the pros and cons of the item. We talk it over and write it out.

I hope to have her understand that saving money is important very soon.

This entry was posted on Sunday, May 25th, 2008 at 9:10 pm and is filed under My Zany Family. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.