HOW TO TEACH YOUR KIDS TO WORK AND BUDGET MONEY

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Are you wanting to prepare your kids for their future? By doing this system it helps kid get ready for the real world by teaching kid to work hard for their money and then how to budget it. From the time I was little, I loved to budget. I love to save money and find ways to make that successful. I wish this was a topic that was taught in school. So kids could have more knowledge about how to budget and save money as they go out into the world after graduating from High School. This is the main reason why I wanted to do the family economy cleaning system with my family. I want to teach my kids at a young age how to work hard, manage their money, how to save it, and give to tithing. So when they are graduates and in college, this will all be familiar to them.

TEACHING KIDS TO WORK | FIND YOUR “WHY”

When you do this family economy cleaning system, you have to remember your “WHY”! I’m going to be honest, its going to be a little work. That work is going to fall on you to follow through and to make sure this system is functioning. So when I’m lacking motivation I remind myself of my “why” and how important this is to have my kids learn this. The little bit of work it takes will go along way and be well worth it!

THE 4 ZONES

I choose to have four zones in this cleaning schedule because I have four kids. It makes it more simple for me in the rotation process. I have a magnet that represents each child and their magnet is next to their zone that week. This makes it easy for them to see what their responsibilities are and easy to move the magnet down at the end of the week to their next zone.

WHAT’S IN THE ZONES?

Here is a simple example of the cleaning zones that I choose and you can change it to what works best for your family. I have kitchen, family room, bathrooms, and basement. In the summer I add yard work into the jobs too. You can choose what chores you would like done in each one. What jobs would help you out the most? You are paying them, so you want this to be beneficial to you!

EVERYDAY CLEANING JOBS

Along with their zones, I have each child accomplish their everyday jobs. To give you some ideas, this is my everyday job list that I have my kids do right now. It’s the things I want them to do without me having to remind them every morning, so it makes it easier to have them listed. Some times this list changes depending on what I feel like they need to be doing. For instants, in the summer I changed it and took off doing homework. Or if you find yourself feeling like you have to nag your kids to get something done everyday, add that to the list.

HOW MUCH TO PAY YOUR KIDS?

I have been paying them $1 for their age. My son is 6 and he gets $6 a week. Keep in mind, when you are paying them this amount you need to increase their responsibilities of what they need to buy on their own. For an example, my 14 year old is getting $14 a week. He can budget in paying for his own clothes, this way he is now the middle man of the money. Instead of me going to buy his clothes, I am giving him the money to learn how to be responsible to purchase them himself. I’m spending the same amount of money in the process.

PAYDAY AND BUDGETING

I think one thing that has held me back from past reward systems was coming up with cash to pay them. It’s usually smaller amounts and I’d find myself not having cash to pay them or not the right bills. In the end I’d forget and fail. With this system I have a sheet of paper for each child. It’s like their bank statement. When payday comes on Saturdays I write in all their amounts on their “bank statements”. I don’t physically give money, they are able to cash in the money at anytime. Just like when you get paid at your job and it automatically get deposited to you account, you don’t see it, but you have access to it at anytime.

That’s it, the family economy system in a nutshell! Let me know if you end up trying it out with your family or if you have any questions!

xoxo -Brooke