Education and parenting articles from the King's team

Share, Spend, Save - Financial Planning for Preschoolers

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Each week our daughter gets three randomly chosen coins for doing a set list of chores around the house. 

The values of the coins vary, and at this point, we don’t give the same amount each week. 

We have been trying to establish the habit of dividing these coins between ‘some to share’, ‘some to save’ and ‘some to spend’.  The last two categories have become a little blurred as it seems those coins all end up together in her purse.

Happily though, it seems the first category seems to have stuck.  For the past few months she has put aside one coin each week into her very prettily painted train money box, patiently (and sometimes impatiently) waiting for the opportunity to share her money with others.

That opportunity came when her class had a mission focused fundraiser.  Decorated envelopes came home from kindy and, without a word of prompting, our daughter’s was quickly filled with the contents of her moneybox and returned.

Now, I cannot claim credit for the origin of this great concept.  In fact a certain stationery store at our local shopping centre is selling specially designed boxes along the same lines.

But, very happily, I will claim credit for introducing the idea to our daughter and (hopefully) for establishing in her a good attitude towards money.  Firstly to share, then to save and then to spend. 

The look of joy on her face in taking her envelope to kindy was matched by the look of pride on this mummy’s face as I watched a heart of generosity blossom before my very eyes.

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Topics: Parenting, Pre-School, Toddlers, Numeracy

 

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