The last few...uh, years I have been trying to think of a way that would both teach our kids about money-saving, earning, and spending responsibly and balancing that with teaching them they are a part of this family and need to help out around the house without compensation. So I came up with "The Hodges Dollar." It's a twist on many other money teaching techniques out there. The kids have been super pumped about it, and it's been really easy for Ryan and I too. I didn't want something that was too complex, to where I would dread doing it.
They each have been given their own basket to put their "money" in. It's obviously fake money...pieces of paper. They earn Hodges Dollars by doing extra chores, sometimes they can earn it by doing their daily chores, or homework without us reminding them. Practicing piano, reading for 20 minutes, and putting away their coats, shoes and backpacks without complaining or me telling them to. Also they can earn Hodges Dollars anytime we feel like they are really trying or being polite. Like just yesterday I noticed Avery at the bus stop let all the other kids go in front of her. I thought that was super kind and thoughtful of her so I rewarded her with one Hodges Dollar.
So once they receive all these "Hodges Dollars" what do they get with it? My closet has turned into a mini "store". I went out and bought a lot of decorations for their rooms, many from the D.I. or Goodwill and I have painted them or covered it with fabric. When they save their Hodges Dollars, they can then earn things for their room, or games for the Wii, or even to go out to dinner or anyplace fun. Each item has a different price. For example if Madisen wanted to purchase her curtains for her room it will cost her $25 Hodges Dollars, and on average she has been earning $2-$4 a day. So she could easily earn the curtains for her room in a week or two. I want them to have cute things for their rooms, yet I wanted them to also earn it and to teach them that they are not entitled to nice things all the time. There's definitely a balance there. And I have always had a hard time with that. So I am hopeful this system will work for us in teaching them those principles.
Does anyone else want to share what they do in their family? Or how I can make this concept work even better. I am all for advice!!
The other thing I wanted to incorporate was tithing, but as it is not real money, I am not quite sure how to do that. I thought about taking away one "dollar" after they earn $10 and telling them this would be like giving it to the Lord for tithing....but I don't know? Thoughts??
1 comment:
Hey! So I've been wanting to do something like this! So I hope it's ok I steal your idea! We are calling it "Moore Money!" I'm still trying to figure it all out.....but thanks for sharing!
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