Thursday, August 20, 2009

Daddy Dollars



We have been wanting to implement a chore chart for the boys, but have been lazy about doing so. This month's issue of Family Fun Magazine has an article about Dad Dollars and I thought it might be a great way to get the boys motivated to help around the house. Sully has been asking me about receiving an allowance so we decided to incorporate real money into the mix.

Make your own money.

Using the website above, I made our own Daddy Dollars and printed out a few sheets to get us started. The boys each have their own list of "chores" that need to be completed each morning including getting dressed, brushing teeth, and cleaning their room. If they do their chores, they get one Daddy Dollar each day. In addition, they can earn more dollars by completing extra chores around the house such as sweeping the kitchen, vacuuming, cleaning the bathroom, and picking up the living room.

I also made a list of ways they could spend their hard earned Daddy Dollars. Most of the items "for sale" are fun activities or staying up 30 minutes extra. There is the option of turning in Daddy Dollars for real money, but they need ten Daddy Dollars to equal one real dollar. I really want to encourage the boys to save their money for something they really want and not just spend it on candy when they have enough.

I would love to hear your ideas on teaching the value of money to children and instilling good habits at a young age.

5 comments:

  1. I still find it funny to see my picture on a dollar bill.

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  2. Thanks for the link--I read the article and mornings aren't working around here and so I will give this a try. We have four children. Three old enough to earn (and spend) money. When our children get paid for work, we encourage them to pay tithing (10% donation to our church) and savings (10% put away to save...I started asking them to put 50% away, my husband thought 10% more reasonable.) We pay generously and encourage the children to save for something they need, not just for something they like (candy). We talk about money in every day settings...where does it come from? What does it pay for (house, utilities, food)? What is the difference between credit, debit, checks, and cash?
    We also bought banks for each child that are clear and allow them to see what they are saving. Best wishes teaching your children about finances.

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  3. Hi Julie! Thanks for stopping by and leaving a comment.

    The Daddy Dollars were working well, but I think we're going to switch over to some real money soon. I really want to encourage the saving of money and having to set a goal for that money.

    Loved hearing about how you talk about money with your kids. :)

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  4. Can you post the chart of what they can by and how much it costs?

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  5. Sure!

    Stay up an extra 30 minutes = $5
    Bake cookies with mom = $5
    Choose the meals for an entire day = $5
    A trip to the aquarium = $7
    Exchange for 50 cents = $7
    A trip to the park = $7
    Pool = $7
    A pizza party (pizza, movie, popcorn) = $10
    A trip to the beach = $10
    Exchange for one real dollar = $10

    ReplyDelete

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