Last night, the issue of pocket money was raised at our house. It's a dilemma? Do we start or don't we? Martin and I never had pocket money growing up. When I was young, my family had no formal weekly/monthly money hand outs. Yes, we had chores and we had to work as a team but we weren't given money for completing them, we just had to do it. Occasionally if we did something extraordinary we got a few $ but nothing huge.
Patrick and Grace have chore charts that must be completed daily. They are not huge tasks. They're simple things like set the table, make beds, unpack the dishwasher and clean their room. I don't believe in giving them a reward for doing what they're suppose to do. They should do it because it needs to be done and it's their responsibility. It's part of being in a family. I also do not want them to expect rewards for everyday living. Am I being harsh?
Now, saying that I also want them to learn to save, give, spend and appreciate the value of money. I think that it might be time for some monetary basics.
Back track to last night...
~Grace has been looking through the American Girl site over and over again. She is desperate to buy new clothes for her doll. She keeps asking me how she can go about getting some things from the site. Of course, I suggest sewing some but she won't have it. She WANTS a carry bag and some fancy outfit and these things add up. Money she doesn't have. Money that I won't give her just 'because'. She even went to her wallet and counted out the few $$ she had. I tell you, this money was burning a hole in her pocket.
This is new territory for me, for us.
So here is my question, how do you handle the topic of pocket money? Yay or nay?
I am starting to feel like it's time to give them the opportunity to learn about money, but I don't want that to impose on the chores that they should be doing and I do not want them to expect a reward for them.
Oh, the dilemma!
What should we do?