Guys, have you already explained your kids where from does money come? and why not all toys they want we can buy at this very moment?
I've touched this question with my boy . He likes to play storymaking games, and he needs different locations and characters for it.
Ok. No problem. Take your constructor and build any location you need. But NO, it didn't for him. He thought if he already had built anything of this constructoy, he had no right to rebuild it because thus he would destroy what he had done before.
Well, there's some logics in it, but...it means he needs new constructions every day?? I amn't ready for it;)
So I proposed him to earn money for his new wish.
And now there is an important question FOR WHAT a 7-year old biy can earn money at home?
For marks? He is unschooled. And I'm sure it's not a good motivation for studying.
For help to Mom? I am cookiing, and he is cooking with me? OK..Not bad. BUT it will mean his help costs money, and he can have a bad habbit to think like this. So he will help anybody just for money? Even in his own family? Bad idea!
Help is your wish to help a person who is important for you, and no money here is needed.
So, let's think....
We all get money if we:
- do something instead of other people (services)
- have knowledge which other people don't have, and it helps them to solve their problems
Right?
I explained it all to my boy, and proposed him a game
Get money for a new toy by yourself! Earning-game;)
I chose the 1st variant - he had definite skills and does something istead of me. I have free time, he spends time, uses his skills and earns money. It's his small job.
And he liked to get awards for his deeds.
Many home tasks I do every day, he did instead of me, and got 2$.
He chose Lego Constructor for about 15$, so he needed just a week to get it.
The term must be not long not to make a kid being tired of waiting.
He must see that his useful deeds are awarded at once, and he can get what he wants fast and easy.
So he got his money in a week!
How happy he was! He was eager to get it asap, and when he succeded he was so excited!
And now his attitude to his new toy is much better, and he really plays with it longer than with other new toys.
He knows the price of this toy;)
This is super cool! I like your approach. I'm not there yet, with all these explanations about money and economics but we already have a money box. I just gave it to my son two weeks ago. I did some sort of explanation about it but thats all. Nothing fancy.
P.S. I didnt forget about the book pictures. I took them already, they're on my other phone. I will get back to you soon enough today with the images.
ok;))😍
This is amazing. And I agree that receiving monetary rewards for good grades isn't good motivation. My daughter receives a weekly allowance and that's what she uses for her own expenses. I taught her the rules of money from the book The Richest Man in Babylon.
oh, is it a nice book?
Psychologists recommend to give pocket money for kids from 6 y.o
My son is 7, it's high time to start;)
how much do you give?
The book gives excellent financial education. The kiddie version is fun too.
I give her $1 per week. She puts 10% in her coin bank, the rest she brings with her when we go out in case she finds an interesting book in the bookstore. She just turned 6 so I thought it's about time she start learning handling money.
Wow! she's six and already knew how to handle her money? Thats good. My son turned 5 and he cannot identify coins and bills yet. I remember him he found 1.00 and he ask if it could buy something. Do I need to teach him about it this time?
Once they start asking questions, it shows that they are opening themselves up to that topic. You may answer their questions and start a conversation about it. Ganun lang din talaga ang teaching moments namin mag ina eh. Nagsstart lang kadalasan sa questions ng bagets.
Yes mahilig talaga sila mag ask kasi curious sila sa mga bagay. I am teaching him the value at kung ano ang pwede nyang mabili using it.
so 0.9$ is enough to buy a book in your place?? Here we can buy only some sweets for it. But I do like the idea to teach my son to keep some money of that sum that I will give to him. Thank you;)
There are bookstores here that sell really cheap books, you just have to have a good eye in looking for good ones. Most of the books I bought when she was just starting to read cost $.60 each. Really helped me build our mini library and her love for reading. Now that I know that she does love reading, I'm okay with spending more even when she picks expensive ones.
Richest man in the Babylon? I wonder who? Is it King Nebuchadnezzar?
The main character's name in the story is Arkad. He shares the rules of money that he learned from Algamish.
Ah okay might be its not biblical, akala ko kasi galing sa Bible hehehe... di ako familiar or baka di ko pa nabasa or nadinig
Amazing! This is indeed a great way to teach our children to learn the value of hard work to earn money.
This is a very good idea. Thank you so much for sharing this tips mommy @taliakerch
thank you!
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