Recently, my daughter’s mind has been on money. She is starting to put value on money, because it gets her things she wants. Since we live in a nearly-cashless society, I’ve found it hard to follow the traditional allowance system since I never have money on me. We always get behind, and she is always in want. To solve this problem, I made her a bank account chart.
I’m excited about using the chart for a number of reasons.
1. I won’t get behind doling out her allowance; and if I do, I can just catch up quickly! The date and description columns will help me keep track.
2. It is important in our family to set aside saving and giving money. Before, I used a savings jar and a little world bank to keep the monies separate. That required a lot of dimes and nickels, so she could physically save and give 10%. Now, I can just write the amount in, or subtract if her compassion moves her to give some of the gift money at any time.
3. We can keep track of her purchases in the description column. She will know what she is spending her money on, and weigh the value accordingly. “Where did all my money go?” can be answered easily by a glance at her bank account chart.
4. Of course, the whole point of giving her money is to teach financial responsibility. I think this chart is a real-world representation of our cashless society, and with time she will understand what the figures and columns represent in terms of actual coins and dollars.
Want to try it on your kids? You can download a bank account chart of your own!