Thursday, November 15, 2012

Money, money, money

I was looking for an activity to do with Hen today, the weather was fairly good, and we had no plans so it seemed like as good a time as any to introduce Hen to money. We broke into his piggy bank, took out ten dollars in quarters, and made a little coin cheat sheet. He received an additional $0.05 for making his bed that morning. We headed out with $10.05 in his money bag.

Our first stop was to deposit Darren's checks. We typically stop at the Starbucks in the building so Hen can get a treat (i.e., a cake pop) and milk. We've done it so often the lad thinks the café is where you are supposed to get milk. Anyway, we're all set to count out the quarters after placing our order - "May I have a cake pop, please?" - when the guy behind the register tells us that it's already been paid for. One of the folks in line in front of us had overheard us discussing how much money he'd need and paid for it. I appreciate the Pay It Forward moment as I've done those a few times myself. But darn it if they didn't thwart my attempt to teach my kid about budgeting his money. Oh well. We left a $0.50 tip and went on our way. $9.55 left in the money bag.

Next, New Seasons. Hen knew he wanted to get a Mega Stretch Frog so there was no surprise here. Hen selected the blue and purplish poison arrow tree frog for $3.99. We went to the cashier, he counted out the quarters, and he received his frog, receipt, and one penny. $5.56 left in the money bag. 

A new toy store that recently opened up in our neighborhood was our next destination. Hen spent a great deal of time here looking around the store before selecting a squishy ankylosaurus ($3.99) and five fire marbles ($1.00). We left with $0.57 in the money bag. 

All in all, it was a very successful experiment. 

2 comments:

Dr. A said...

Most excellent!! How I miss the no sales tax thing. It's tricky to tell E, "well, you have $2, and it says it costs $2, but you need a little bit more." (I usually just cover the tax...)
And question - does Hen get an allowance, does he get paid for chores, or both? Are there some chores he does that are just expected because he's part of the family? I think all us mommies should dedicate one blog post to this topic. Maybe a week of guest bloging here, so it's all in one place?

Megan said...

Dr. A - you didn't ask me, but I will tell you what we do. :)

We did not tie her allowance to completion of chores. Avery is expected to do any tasks/chores we ask her because she's a member of the household. She does have the option to do additional chores to earn more money. The allowance is money I would have spent on her anyway, but that I allott to her each week to spend as she wishes (within guidelines like she has to save 2/5, donate 1/5, and then can spend 2/5). So when she asks for things in the store, I refer to her allowance and how much she's saved, etc. It basically eliminates my need to say yes or no to things as it's all dependent on her choices when she saves/spends her money.