• 2 Posts
  • 31 Comments
Joined 1 year ago
cake
Cake day: August 23rd, 2023

help-circle

  • Read the barefoot investor. Has some great tips for kids pocket money, as well as a simple way to educate them on how to use it.

    It boils down to splitting the money into spend, safe, give. Spend for lollies and random crap, save to work towards buying something big (like a computer game, RC car etc) and give to teach them the joy of helping someone else.

    He also recommends that you should pay cash, so that money is real and they value it. Cards are intangible and impossible for for kids (and most adults) to really understand what they are spending.

    We have used this with our son and it has worked well.














  • The gradual increase in responsibility. They have to pay board. A roster for dinners, a bill out into their name (one that you can deal with being cut off for a little bit (!!!).

    But ultimately, it is also out habit of just getting it done that means we just do it.

    I expect that it is a conversation and agreement of shared tasks and responsibilities.

    Cutoff access to wifi and don’t pay phone bills, plenty of ways to get started, but it always starts with a chat.