Tuesday, May 31, 2011

Bank

Lula Mae got a dollar from her Franny yesterday. (Franny is my Mom. Since Lula Mae was the first grandchild she got the privilege of "naming" her) Today I wanted to teach her about money. She thinks that money is just something to hold and play with at this point, and I just don't like that. I think the earlier you begin explaining financial things to kids, the better (in an age appropriate way of course). I want my kids to understand the importance of money and that since God blessed us with this money we need to use it wisely. I know the picture is hard to see, but it gives you an idea of what we made.


The big bag is Lula Mae's "bank". Inside of the bank are 3 different "accounts". We talked about how you give to the church first, savings second and then to your spending account last. So we took her dollar and broke it into change. Then I showed her how to divide her money between the bags. I will say, she was not thrilled and whined and pouted through a majority of the activity. She thinks she should just hold and play with her money.... and well, that just isn't going to happen. I think over time she will think it is fun, but right now she is protesting. The next time I go to the Dollar Tree I need to pick her up some pretend money to play and practice with. On Sunday I will let her take her church bag with her to give in the offering and I think that will perk her up a bit. I want my kids to have a good foundation of money so that perhaps they won't make the same mistakes that Charlie and I did. I think that this along with them seeing us work towards a debt free life will really help them succeed when they are in charge of their own finances.

4 comments:

LaVonne @ Long Wait said...

A very good idea. I need to incorporate some money teaching to my own daughter. She seems to think that money is something that is just there and it is neverending.

Thanks for sharing!

Blessings,
LaVonne @ Long Wait For Isabella

Rachel said...

We've worked with Itty Bit on splitting out money too... this is a great visual idea.

(Except of course, when the kiddo pitches a fit because he wants to dump the change jar out and just spin all the quarters! :)

I think you're right - she'll like playing with some play money too!

wholesomewomanhood said...

I love this idea! So far, the only money my boys have been given are in the form of checks. So we've been keeping their money for them. Maybe I need to get a dollar to teach them this... :-)

Emmy said...

Good for you! My kids both have little banks that have three sections tithing (church), mission or college, and then self/fun. In our church we give 10% of our income.