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Friday, July 9, 2010

Paycheques for kids?

Having read over what feels like a hundred ideas from other people we have come up with our own version of school finance lessons. Since DD is five and not learned coins yet too much I printed out Canadian coins on paper, oversized.
We will give the kids each their own paycheque for the school money that I printed. They earn money for their weekly paycheque based on how well they attend to their lessons ie, no excessive whinning, procrastinating etc..Each lesson is worth twenty five cents. I keep track of the lessons earnings with tiny stickers on the bulletin board. If they are really bad during the day they may have a deduction from their paycheques. And on the flipside if they do something extraordinary like asking to do a school project or being extra nice to one another they will earn a bonus. The idea is too get them to think about how to be more responsible. And then having gotten their paycheques they then may take them to the school bank. Where Dad aka the banker will cash cheques or deposit accordingly. Thus they are learning a little banking lesson and how to save. On the weekends we will open the school store. Having previously stocked it with items of interest. I made a catalogue for them at DS's request with the choices they will get when they enter the store. Anything from snacks they don't normally get, toys, to vouchers for special events, like nighttime hikes with flashlights. The catalogue was DS idea he wanted to have something to peruse while waiting for the store to open. It also gives them the idea of what things will cost and what they may want to save for. We are allowing them to pool their monies if there is something particularly expensive that they both would like say a new board game.
So today is the first paycheque day and we are all very excited to see how this works on a weekly basis.

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