Money and Budgeting

Sporadically we've given the kids little talks about money.  It's important to both of us that BB and DD understand the value of money.  You can already tell BB has not much care for money.  DD, on the other hand, loves money and loves to spend it as well.

We don't give them an allowance currently, but soon after writing this the boys and I had an impromptu conversation about allowances sparked by a budgeting question from BB. I promised them a certain amount each week if homework and other responsibilities are completed with a good attitude.  I guess we will give it a try starting now.

What I originally had in mind was not a weekly allowance, but more of a budget for things.  We routinely go to the book store or go on Amazon to order books the boys are interested in.  My thought was to give the boys something like $150 each to spend on whatever books they like. Continuing this tradition all the way through high school.  And maybe before we go on a long beach trip, taking them to a used book store and giving them $20 to spend on a bag of books and then just donating them when we're done.  For now though we'll try the weekly allowance and work on budgeting.  I've asked each of them to keep a passbook of their savings and their expenses.