A penny saved is a penny earned!

We have never given our children allowance (I know horrible right). Our view is you are part of this family living in this home. As a family we do what it takes to keep our house somewhat clean and operating in order. I don’t get paid to clean the bathroom or make meals! This year we have however started giving them money for jobs. We have made it very clear that when you go above and beyond the basic expectations sometimes you will get rewarded by payment. If you know my oldest Josiah you know he is a business man in the making. He is always coming up with ways to make money, save it and then order items from Amazon or Kijiji. This guy has learned how to fold laundry better then some adults out there in hopes to make a dollar here and there. I have had to remind him that he can not wake up at 6:00 am fold a bin of laundry and automatically assume he is getting paid for this. Poor guy has had to learn the hard way! He has recently enlisted the help of his six-year-old twin siblings. Every once in a while I will go downstairs and he has them folding clothes and the worst job of all finding matching socks. He realized quickly that when you add three people’s “income” together you can get what you want faster. All this to say at the beginning of the summer holidays we were at the dollar store and came upon this piggy bank that had on it

save now spend later”. I purchased it and on the way home I explained to them what the saying meant to me. I told them its important to save your money and not to be in a rush to spend it on candy or dollar store items. I let them know this piggy bank would stay in our bedroom. We would add money to it when I saw them going above and beyond what is expected of them. They thought this idea was genius and they all had such great enthusiasm for it. There was one catch, they all had to agree on what the money would be spent on. I don’t know about your children but on a good day it can take anywhere from 5 to 10 minutes for them to agree on what they are going to watch on Netflix. I left the conversation at that point and let them brainstorm and problem solve for what seemed like forever. They had recently went to the movies with their aunt and uncle and had seen a preview for the movie Christopher Robin. They ran to the kitchen and in unison told me they wanted to save it to go to the movies on August 3rd as Christopher Robin came out that day. It was a done deal and the saving began. I went out and got a stash of change to keep readily available as I never have change on me and lets face it children like immediate gratification. Fast forward to today I had them count their money and they had made $23.00. That was enough to get each of them into the movies. They were all pretty excited to spend the money. The cashier who had to take all that change well, God bless her she was so sweet but I’m sure she has some not so nice thoughts going through her head while counting the money. I plan to have them start saving again as of tomorrow and will let them decide on what they are saving for.

I found this to be a positive experience for them and hey it helped me quite a bit too. WIN WIN! Secretly I hate emptying the dishwasher and use to pawn that job off to my brothers as much as possible. Guess what one of the paid jobs are around her sometimes? Here’s the thing depending on the child when you ask them to clean the windows or the bathrooms (with vinegar in case you are worried I let them use the strong stuff) it may not be done to our standards. I tell them as long as the effort is there. if it takes me 5 minutes I am not letting them get away with cleaning the windows on the main floor in the same amount of time it takes them to sing the ABC’s. If I see they could have used more effort I really try to provide them with positive feedback and then proceed to show them how they could go about it a different way to get a better result. Overall this small life lesson in the grand scheme of life has helped them to:

  1. Save money together and problem solve as a team (you can still do this with one little person)
  2. Learn new jobs around the house even at a young age it is never too early to start. I even have my 2 year old grab the broom and “sweep” sometimes after meals. I do not want my children growing up thinking that everything is given to them and I do everything in my power to make sure they see the importance of working together to make others loads a little lighter.
  3. SAVE their money!!! Instant gratification is so big in society these days and by doing this and other money saving ideas the hope is our children will learn the importance of saving.
  4. Enjoy the fruits of their labour together!!!

The children are still wanting an allowance and we are going to start maybe one day. Josiah “everybody in my class gets at least $5.00 a week for allowance.” Then I make one of those comments where you stop and think to yourself “man I sound like my mother!” LOL

Do you give allowance? Or money for jobs done around the house? Parents whose children are older how much did you give 20 to 30 years ago or adults how much did you get if you got any? I would love for you to share your thoughts.

Giving their movie reviews!

16 thoughts on “A penny saved is a penny earned!”

  1. Thank you for writing this Blog. I have learned a lot from it that I will carry on to my children one day.

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    1. Great read!!! We do not give allowances either as we say you are part of this family. But we do let them use their own money for special things!!!!

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  2. Hey girl!! We do loonie chores and the kids love it!! I like your idea of pooling it all together and agreeing on what to do with it. So all chores in our house besides them cleaning up after dinner or cleaning up theirs rooms can count towards loonie chores

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  3. That was awesome to read Tonya!! I love seeing how much of an amazing mother you are with your hands full.
    Looking forward to reading many more. Let me know how I can help spread the word about your blog. You’ve started something wonderful!

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  4. I like your ideas Tonya. We would reward our children for school achievements. $5 for a B grade and $10 for
    an A. In the winter the money was used for a family vacation. Chores were expected to be done.
    They did receive an allowance of $5 a week when they were around 8 yrs old. They learned to save and give with that amount.

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  5. Wow T how creative! I really enjoyed your blog. You truly are a gift to your children. I especially liked the idea of teamwork and the children agreeing on what the rewards would go towards.
    I enjoy seeing the Lord work through you, as you do, all that you do.

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  6. So proud of my sis for starting this blog…great read Tonya! I have never given the kids allowance. For very similar reasons as yourself. Being a single mom back in the 90’s showed the girls that many hands make light work! We would have cleaning day and when we were finished we would go for a treat, watch a movie, go on an outing, etc. Money wasn’t as easy to come by back then! High five guys! You are raising those babies well. Xoxo

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  7. Great writing I look forward to reading more from you. What a great way to teach your children the value of hard work and that instant gratification is pointless. Thank you for sharing I now have some ideas when Jolomi asks for an allowance (hasn’t happened yet)

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