I mentioned in a previous post that our three year old has recently gotten a bad case of the give me's and I wants. Trev and I really want to break him of this habit and teach him the value of money. We don't want him to become materialistic.
We have decided to institute a chore list which will be rewarded with an allowance. Jake is already really good about helping us out around the house. He loves to help with chores of any kind. We have decided if we encourage him helping out we stand a better chance at his eagerness to help remaining long term.
Most children today lack an understanding of the value of money. We believe this is a very important lesson to learn. We feel the younger we start teaching our son this lesson the better.
Jake's chore will include picking up his toys, feeding our cat, helping out with dishes, helping with laundry and shoveling in the winter. The last two are obviously not things he can do well but they are his favorite two. He loves to throw the clothes in the washer and dryer and "fold them" (Although I always have to refold) and I have to say since he was about a year and a half our deck has always been free from snow. He keeps Trev on his toes about shoveling!
I am very excited to watch Jacob learn about money. I'm sure his allowance will be spent promptly on cars the first few weeks, but we are eager to teach him the importance of saving and smart spending.
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