After graduating from Kindergarden, my son is eagerly anticipating his next exciting event in his life; that of opening up his own savings account. 2 years ago, I realized that my son didnÂ’t understand the function of an ATM and a bank card. He was starting to believe that if I wanted to buy something all I had to do was go this machine, put a plastic card inside a slot, punch in some buttons and out would come lots of dollar bills.

So at age 3 and a half, I composed a list of what were his responsibilities (like putting toys away, brushing his teeth, putting dirty clothes in the hamper). So that he could remember and get used to things he needed to do to be responsible for himself. Then a few weeks later I introduced the concept of rewards, like ice cream for dessert (we normally didn't have dessert back then) for his extra help around the house like setting the table. After 2 months I introduced the concept of receiving money or an allowance for chores he would agree to do that were outside of his area of personal responsibilities. I also explained and showed him what doing a good job was and how if it was done well he would get a full allowance.

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Posted by: Michele at 12:43 AM | Comments (3) | Add Comment
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