Monday, September 26, 2011

Family banking system

I walked by our eight year old son’s room one evening and noticed him neatly putting his shirt on a hanger and hanging it in his closet. “Good for you son—great to see you taking care of your stuff.”

He had been on the family banking system for a couple of months, and his reply, though not altogether respectful, was gratifying, “Duh Dad, this baby cost me $29.95. Do you think I’m going to leave it lying around?”

My daughter is great at getting her pegs and earning her money, but she spends it all so fast on impulse purchases that she has nothing left for the things she needs or to go to the movie with her friend at the end of the week.

My son had seen one of those humanitarian infomercials on TV about starving children in Haiti. With tears in his eyes he came to me with a check from his own little family checkbook—made out to “children in Haiti” for $100.00 of his hard earned money. I realized that by giving him ownership of his own money we have also given him the true ability to give!

We have instituted interest in our family bank—at a high percentage, and the kids really want it; but by the end of the week they never seem to have any of their money left to save.

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