As parents, it’s sometimes difficult to know which method to use when teaching children about money. I think my husband and I tried them all at various times!
I remember having our four kids do their daily/weekly chores with no pay, giving the explanation that we are all members of a family and work together for the good of the group, not expecting monetary rewards. We also tried allowances and weekly pay days, plus charts and stickers. There was even a time when we handed the kids the exact amount of cash we’d budgeted for each one’s needs and had them buy their own clothes and other essentials. The thinking was that they could learn to shop brands and sales and carefully decide how to allocate their funds. The children also knew they were required to save a certain amount to help pay for college and missions, meaning outside jobs and savings accounts.
Yes — I think we tested just about every method out there.
If you’re in need of ideas to help your children or grandchildren, parenting expert Richard Eyre will be on “Mormon Times TV” this Sunday with great suggestions for educating young people about money matters — a topic that can have spiritual implications as well.1 comment on this story
The Mormon Tabernacle Choir has a lot going on right now — a new CD of children’s songs, a new music video, a YouTube channel and an upcoming summer tour. Choir director Mack Wilberg and new president, Ron Jarrett, will both be here with the details.
Also on our Feb. 24 show we'll review details about the new Missionary Training Center leaders of The Church of Jesus Christ of Latter-day Saints have announced for Mexico City.
Plus you’ll see how human-powered drills are bringing much-needed water to people in Africa. It all began with one man’s dream.
And we’ll take you inside the happy home of a family with 10 children — seven of whom are adopted and have special needs.
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