I don't remember exactly when we switched to the envelope system for the kids. I think it was last winter . . whenever it was that I started reading Smart Money Smart Kids, a collaboration book with Dave Ramsey and his now-grown up daughter. Absolutely Wonderful book!!!
Anyway, each kid has three envelopes to sort their money. They have a "save", "spend", and "give" envelope each. They earn their money all week, then put a percent in to give, a percent in to save, and they get to spend the rest.
I have encouraged the kids to think of something big that they want to save up for. Honestly, I've been feeling like the save lesson hasn't really gotten thru to the kids. And I've let them dip in to their savings for shopping trips and going to the fair, etc. I probably need to be a little more strict with this. Anyway . . . I've got some good news!
One child has been saving up for his very own Nintendo DS. He picked out the one that he wanted. He's even been doing extra chores to reach his goal. Finally, today, he did the last extra chore to give him enough money! I've been a bit under the weather, so the hubster and him set out for Meijer. With his hard earned money in his wallet, my boy was so excited and proud to be reaching his goal! It was great to see him so proud of himself that he saved enough!!
I instructed the hubster to take pictures of my boy paying at the register for his big purchase. I was going to put them in this blog. Unfortunately, the store was out. :( All that hard work, and the exciting drive to the store, and it wasn't there.
BUT, I went looking on line and found the same thing for cheaper!! Ok, so I already knew it was cheaper online, but I didn't want to take the moment of handing over his hard earned cash away from him. There is something about that physical exchange that makes it even better!
When they get home, we'll go online together and order his hard earned prize! And, now he'll get to keep about $10 back in to save envelope for his next goal!! Plus, I'm sure the hubster consoled him with some sugary, check-out treat :)
Tonight I am thankful and proud for the first giant savings goal reached amongst our children! On to the next!!! :)