Monday, May 23, 2011

First Money Lesson

Since Ella and Aidan were little, we have been putting coins into their piggy banks every now and then.

At about 3 1/2, we started working on teaching them a little more responsibility for things that they are able to help with around the house, such as cleaning up the playroom at the end of the day, helping to make their beds each morning, putting laundry away, etc.

They are both wonderful at helping; however, Ella is much more eager to please and loves to tell us all about her accomplishments - "Look what I did! I did it without even being asked, Mommy!". Aidan, on the other hand, will drag his feet and often needs the threat of me telling him whatever he does not pick up will be going into the trash or into the stuff to be sold.

Along with these new "duties" they have also been learning about the coins that they get to put into their piggy banks. They love to indentify the quarters, nickels, dimes and pennies, and while they do not earn an actual allowance, they do earn coins at random intervals.

They are beginning to understand the concept of money (as well as a four-year old can), and got their first real taste of spending that money this past weekend.

They were both begging for a certain new toy - Aidan, a certain Iron Man and Ella, a Mulan princess.  So, we told them that we were not going to buy them any new toys, but if they wanted to spend their own money, we would take them to Target and let them do so.

Mike helped them count out $10 each, primarily in quarters, and off to Target they went....



....and came home with their chosen items!



They were both so proud of having saved their coins, and of how they bought the items all by themselves!

2 comments:

Karen said...

Such valuable lessons. This will help in learning to wait until they have enough money and/or decided whether they really want something if they have to buy it themselves. Kudos to mom and dad!

Anonymous said...

The first of many money lessons. We have been working on this for years. Mine are getting and allowance now, which they spend when the ice cream person comes through. I think what confuses them the most is when we use our debit card to pay for stuff. That is a whole other lesson for another time ;) Dana