For a long time I've been debating how to teach my children how to save money. I was never taught to save money and its been a struggle so I want to teach my children.
I raided all their saved money and added in "a little extra" that was sent to them by Memaw and saw that each child had enough money to open juvenile savings accounts at my bank! I was so excited!! So I figured out the tithe for each child and put it in a baggie clearly labeled with each child's name. Then I figured out their savings amount and put it in clearly labeled baggies. Now, while I'm doing this, Elijah and Lydia are standing beside me wanting to know why I'm taking all their money. I try to explain to them that they are going to keep half, the bank is getting some and that we are giving back to God the part that is SUPPOSED to go back to God.
Please forgive my naivete, but nobody was excited about this venture with the exception of MOM! I was so stupid!! I thought they would be sooooo excited to have their own savings accounts!!
Ignoring their pouts and moans of displeasure, I load up the 4 younger children to go pick up Abigail from school. Surely my oldest child will be excited to have her own savings account. Wrong again. All 6 of us trot into the bank with solemn faces, the children because they have to give the bank all their money and mom because she is the only one happy about opening new savings accounts!!!
Lesson learned - there are two things you don't have to teach children - how to lie and how to love money!!!
Hoping they will appreciate my mommy being "mean" when they have a nice nest egg in the bank at age 21 . . . . . . . . . . . . . . . . . .