Eli and Walker opened their very first savings accounts today!
We have decided in our family that the boys would earn money this year for good grades. I know a lot of parents give allowance for chores, but we feel that chores should be done because it helps us to feel closer to each other. It builds and strengthens relationships, and it gives them a sense of responsibility. It teaches them to work and serve others because that’s why God put us in families..to ease each others burdens. If everyone pitches in a little… a lot can be done! 🙂
We feel that school is their job. And with any job a person has they want to a paycheck. So we gave them a pay scale.
A’s = $5.00
C’s and Below = $0.00
Specials if they get an “E”=$3.00 anything below that $0.00.
It’s been a great teaching and learning experience for all of us. They are expected to pay tithing on what they earn, and put 20% into savings. The rest is up to their discretion to spend how they like. (Mom would like them to save that too..but it’s hard when they have money burning a hole in their pocket. LOL!)
We are blessed that both boys are outstanding straight ‘A’ students. They have been keeping track of their money at home and today they had enough to take to the bank to open their very own savings accounts! 😀
(Cell phone pics again…Better to have poor quality ones than none at all I say. :P)