As Roo gets older, I am trying to check all the boxes on my parental list of things girl needs to know.
It's a heavy responsibility to make sure your kids have all the knowledge they need in life and to make sure you are teaching them what they really need to know so that when they get older, they are on the right track.
Financial responsibility is an important part to me.
I grew up with a knowledge of money, I had chores and I got an allowance every week to buy a Barbie doll (back then Barbies were only $4!) or some candy for my sweet tooth.
When Roo turned five, we made the decision that she was old enough to start having small chores around the house and that she could earn her own allowance.
My husband went out and bought her a book about allowances and what the best way to spend, save and donate were.
So we explained everything to her and set up her jars. We didn't want to make it too complicated for her.
At the end of every week (or every two weeks), we sit down and talk about her chores and what she did. We hand her her money and asked how she would like to divide it up.
She doesn't have to always split her money equally either. If one week she wants to put only a $1 in her savings and split the rest between the other two cups, that's fine.
As parents, we are giving her choices and the only rule is that she has to put a little of something in each cup.
Sometimes she wants more spending money and other times she wants to donate more.
Virtual Piggy is a great online account that helps you teach your kids about saving money and the right way to spend it. There are budgeting tools, charts to help you analyze and most importantly: IT'S 100% FREE!
Here is a short video that tells you how to use Virtual Piggy.
It's never too early to start them on the right path, huh?