Last November we bought the girls Moonjars as a way to start laying the foundation for good money management skills. Initially we decided to give each girl $3.00 (one dollar for each section) a week. Recently, however, we decided to increase it to $5.00 a week so that they could still put $3.00 into their jars but have $2.00 to spend. There is nothing that they need to "do" to earn this money. We'd rather that they do things around the house because they are part of our family (as they always have done) and not for what they will get.
Often we would be out and about and they would see all sorts of wonderful things that they would like to own. To link their dreams with their Moonjars we decided to have each girl choose one thing she wanted to save up for. Goals were set, charts were created, money was given and spaces colored in. Before long they had reached their first goal and so we headed out to purchase the desired items.
While we were out on that first trip it became clear that the item that Grace had been working toward was nowhere to be found. It was during our search that she came across another item that quickly found its way into her heart. As we went to a couple more stores to see if we could find what she had originally been hoping for (the Littlest Pet Shop whale) she and I chatted about how she could "save the money she has now for the bigger item she just discovered". She thought about it for a bit and then decided that's exactly what she'd like to do. And so it was that she saved her money for a wee bit longer so that she could make her new dream a reality.
When we got home we made a new chart with more spaces for her new goal. Emma made a new one as well (the one pictured above) and they put them back on the fridge. Traditionally, they are given their money on Fridays but with tomorrow being the holiday we figured we'd give them their money a day early. Jars, charts and coin purses were brought to the table today. Money was counted and placed in sections and purses and spaces were colored in. Emma had her shoes on (before I could take a picture of her) and was ready to head out as Grace was coloring in her spaces. Based on the money given today she would be $2.00 short. But no worries, she had plenty of money in the spend and save sections of her jar. $2.00 was withdrawn from the jar and out the door we went!
And with new objects in hand two very proud girls went home where they spent the next several hours playing with Grace's new toy (oh, the stories that were created this afternoon)! They have yet to decide what they will next save up for, but whatever it is I know they will be thrilled when they have reached that next goal too! Well done, girls! xo
Often we would be out and about and they would see all sorts of wonderful things that they would like to own. To link their dreams with their Moonjars we decided to have each girl choose one thing she wanted to save up for. Goals were set, charts were created, money was given and spaces colored in. Before long they had reached their first goal and so we headed out to purchase the desired items.
While we were out on that first trip it became clear that the item that Grace had been working toward was nowhere to be found. It was during our search that she came across another item that quickly found its way into her heart. As we went to a couple more stores to see if we could find what she had originally been hoping for (the Littlest Pet Shop whale) she and I chatted about how she could "save the money she has now for the bigger item she just discovered". She thought about it for a bit and then decided that's exactly what she'd like to do. And so it was that she saved her money for a wee bit longer so that she could make her new dream a reality.
When we got home we made a new chart with more spaces for her new goal. Emma made a new one as well (the one pictured above) and they put them back on the fridge. Traditionally, they are given their money on Fridays but with tomorrow being the holiday we figured we'd give them their money a day early. Jars, charts and coin purses were brought to the table today. Money was counted and placed in sections and purses and spaces were colored in. Emma had her shoes on (before I could take a picture of her) and was ready to head out as Grace was coloring in her spaces. Based on the money given today she would be $2.00 short. But no worries, she had plenty of money in the spend and save sections of her jar. $2.00 was withdrawn from the jar and out the door we went!
And with new objects in hand two very proud girls went home where they spent the next several hours playing with Grace's new toy (oh, the stories that were created this afternoon)! They have yet to decide what they will next save up for, but whatever it is I know they will be thrilled when they have reached that next goal too! Well done, girls! xo
Love this idea Shel, something I think we will start with our little man very soon.
ReplyDeleteThanks Kim! I bet he'll love it! The girls are having a great time with it and the visual of the chart really helps! xo
DeleteThat is a great lesson... we have slowly started to introduce the concept of "money" with our now almost 4yo. The way I see it, if she's old enough to say "I want this", she's old enough to understand how we go about buying things. She doesn't always get the concept, but she's starting to understand that mom and dad don't just "have" money...
ReplyDeleteExactly! It's definitely a work in progress! We figured if we can get them in a habit of always saving a portion of their money from early on then they will be in good shape for later in life! And the visual of the chart definitely helps too! That piece was definitely key!
DeleteSince they are still so young we aren't dealing with tax yet. Dave and I decided that for now we'll just pay the tax on the items. When they are old enough to understand tax then they will take that on too, but for now everything in their world is just whole dollars. :)
This looks a great way to help with the concept of money. Something I think we need to start with our girls.
ReplyDelete