Give…Save…Spend

I attended Financial Peace University, by Dave Ramsey, earlier this spring and learned quite a few things about money.  One that really struck me was how we are teaching our children about money.  I was determined that my children would learn that the money they were given on birthdays or that they earned was truly a gift from God and that giving back was always the first priority.  So I created a little wall hang to sort their money.  It has a pocket for each category.

I taught Megan to first put some of the money she receives into the Give pocket.

Then divide the rest into the save and spend pockets.

Well, she initially had some trouble with the give pocket.  See…she had something she really wanted to buy…a new backpack.  I had to remind her on a few occasions that giving came first but she eventually got it.  She worked extra hard for about 5 weeks and saved up enough money to buy a new backpack (her current one was perfectly fine, she just wanted something different).  She became the proud owner of a backpack we found online at Target.

It’s as big as she is but she loves it.  I wondered how she would do parting with the money after she waited so long and worked so hard to earn it, but  she didn’t become too attached after all and handed it over easily.  She took the money in her “give” category to church and told me one day that she really liked giving money to God…”it makes me feel like a nicer person.”  Out of the mouths of babes! 🙂  Love it!

I had other ideas in mind for this categorizing of money…one was to make pouches like a purse with a place for a handle to attach so the handle could be used for whatever category was needed.  For instance, if we were going to the store, she could attach the spend pouch to the handle…to the bank, the save pouch.

Another idea was to use the wooden birdhouse below.  My girls actually use this more than they use the wall organizer now.  I enlisted my parents to make it work the way it does now.  I found the bird house at Michael’s and figured it would be easy to modify so that the roofs could be taken off to get the money in and out.  It took some figuring, but my dad finally got it to work.  My mom painted them (aren’t they adorable!) and they were given to them at Easter with little chocolate bunnies and lambs in the grassy area.

My mom painted the words Give, Save, Spend on the insides of the roof on each section.  The trick is, making sure the girls put the roof back on top of the right house!  Guess, I could paint the word on the inside of the house it belongs to as well.  I mean, I don’t want the save to all of the sudden become the spend!  Unless of course, it’s a rainy day!

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