This was a great article I read regarding teaching our kiddos about saving for the future, giving, looking for deals, and saving for a special toy they have in mind. It's never to young to start instilling these life & financial tools that they will carry on into adulthood.
We started with simple envelopes with our 8 yr old & decided if he makes this a priority we will match contributions.
So today before his long awaited trip to toys r us, we counted his money. We separated his savings, his tithe (his giving away $ of his choice), and counted leftover for total on what he was able to spend before the trip. Then we hope there will be no melt downs in anticipating his spending limit prior to going. Then it's not on the parent to set limit in store. It's on the amount of his cash on hand that he can spend. I'm looking forward to seeing results down the road. Stay tuned on this one.
