Almost every weekend my four-year-old wakes up and asks What are we going to do today? My answers usually range from the park to the grocery store. He always, always groans and suggests maybe the bookstore? Maybe Target? Maybe he needs a haircut? (I used to bribe him into compliance with not screaming his bloody head off in the chair with a car when he was done. I know. Not smart.)
In fact I've done a lot of things that are not smart when it comes to money. I'm not a numbers person and balancing a checkbook? I hate to do it. HATE IT. Let's just say I've learned the hard way when it comes to managing money.
I've tried to tell my son that I don't have money for haircuts or the bookstore or for toys and that worked for awhile, but his new answer? But you went to work yesterday! Um. Right. I did. How does one explain a mortgage to a little kid?
One thing we've tried to do is come up with the distinction between a little toy and a big toy. Little toys are matchbox cars or Play-do. Big toys are just that; Big toys. Bigger than a breadbasket- you've got to earn it.
We did a chart recently. It's the first time we tried it and it worked like a charm. For every night my little man fell asleep with no one laying with him, he got a sticker on the chart. Three weeks worth of stickers earned him a Big toy.
That lesson has stayed with him- and us. Now when he asks for something we ask what kind of chart we will do. No smart talking? Teeth brushing? No shouting? Let's make a chart. It's been the best way for us to drive home that things must be earned.
We're not old enough to really understand the concept of money, but something tells me this is the approach we will take when the time comes.
This is part of the Parent Bloggers Network Blog Blast. They are working with Capital One (@teachingmoney on twitter) to help them facilitate conversations about teaching your kids about money. If you'd like to play along and write a post about tips on and experiences with teaching your kids about finances, visit the Parent Bloggers Network blog for more details. (There are Big Toy giveaways..)
