Tuesday, September 8, 2009

Morning Line-up


For close to 2 years now the twins have been doing what we call their "Morning Line-up". They do this close to EVERY morning of the week. Recently, they have begun receiving an allowance. Chap heard a speaker on the radio discussing how to teach money management to children. For every year that they are they receive 50 cents. The twins therefore receive $2.50 and Peyton receives $6, make that $7 if he mows the grass in a timely manner. 10% of that goes to tithes, 40% goes to spending, and 50% goes to savings. They are not allowed to touch the savings. The speaker on the radio gave examples of when his children were older and could drive (thus wanting cars), the parents would match what was in their savings. One child saved up over $8,000 over 16 years. And yes, they had to match it.
Although their attitude about chores isn't "overly" enthusiastic, we believe instilling work ethic in them and teaching them that money does not grow on trees is very important. You reap what you sow. If you work, their is a postive reward.

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