Value of Money

Contributed by Milford Woods

One of the things we’re really trying to teach our children is the value of money. We’re giving them an allowance every week that they have to earn by doing chores. They can choose to spend their money whenever they want—they can make a total impulse buy at the grocery store, or they can save their money up for something they really want. This is working amazingly well. They still opt for the instant gratification of the grocery store purchase more often than not, but a pretty awesome thing has started to happen. A few times, we’ve been out running some errands and one of the kids has spotted something they really want to purchase. They usually freak out when they discover that all of their allowance is gone, and we’ve been using this as a pretty great talking point. Each time, we’ve explained to the kids that had they saved their money they spent on gum and baseball cards for the last few weeks, they would be able to purchase this thing they really want. I can see it starting to take hold. My husband and I are also simultaneously watching our own finances. We recently discovered we can select our own energy providers and can save a ton of money! You can shop rates from Bounce Energy to see how much you can save, too.