So yesterday, we notified them in advance and called a family meeting. The kids were quite wary beforehand. Turns out, they thought it was all good (except for the announcement of what their summer yard chores would be, ha ha). We told them about our "Mom and Dad Matching Plan": any activity they want to do, they pay half and we pay the other half. So basically, we'll match their money. When I said some people might find us abusive for expecting our kids to cover half their expenses at their age, Rose piped up with, "but mom, no kids I know get a $50 a month allowance!" Woo hoo! We're training them well...
We extended our matching program to their future transportation needs and also said they might want to start saving for a car at some point (Eli has only two years before he can possibly get his driver's license--ack!), because we'll match their money for that too (within reason, of course...Not being as rich as Dave Ramsey, we're going to have to decide what our limit will be.)
This all started because when I was thinking of how to keep Rose busy this summer, and the cost of all the activities she might like to do and how hard it is for us to spend that money especially since we're trying so hard to get out of debt, I realized she's now at an age where instead of costing us so much money, she can start making some money by babysitting and doing other jobs. Having the kids work has the added bonus of keeping them busy at the same time.
Seriously, my Grandpa quit school in 8th grade so he could start earning money for the family. We've only had a few generations of spoiled brats in America, and look what it's done for our country? (I don't say "spoiled brats" easily or lightly, because I truly believe kids to be good, but they're also incredibly smart in general and will get used to what they're given and come to expect it. I think it's time to change our ways with money.) I think my kids feel great about their ability to save and spend wisely. We compliment them on it all the time, and are so proud of them. We're helping them "live like no one else so later they can LIVE like no one else"!
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