I have accidentally discovered a brand new way to get my 12 year old to save his money. Pay him in BIG bills! Sounds crazy but it has worked. He has a $50 bill that he refuses to part with. It all started with a visit to his grandparent’s house.
One of the highlights of summer time for my kids is getting to spend time with their grandparents. They play Scrabble, build marvelous things with my Dad and generally get wonderfully spoiled for a week. In the midst of all the fun, my parents have discovered that my kids will also do plenty of summer chores for them. Things that my parents can’t (or don’t) want to do, such as detailing cars, washing windows and painting benches have become specialties for my kids! Grandparents tend to pay pretty darn well too.
This past summer, my 12 year old accomplished several of the big tasks for my parents. They paid him $50 and gave him a brand new, crisp $50 bill. He still has it and is determined to keep it for a very long time. There have been two instances where he has thought about buying a toy or game but has opted to save his money because he does not want to part his cash!
The desire to hang on to that $50 bill has caused him to analyze and critique his spending habits. He really thinks about whether an item is "worth it or not".
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| from Flickr.com |
This past summer, my 12 year old accomplished several of the big tasks for my parents. They paid him $50 and gave him a brand new, crisp $50 bill. He still has it and is determined to keep it for a very long time. There have been two instances where he has thought about buying a toy or game but has opted to save his money because he does not want to part his cash!
The desire to hang on to that $50 bill has caused him to analyze and critique his spending habits. He really thinks about whether an item is "worth it or not".
