We wrote recently about the weekly Responsibility Chart and setting household tasks for the children. Well, we’re on week 4 and I have to report that overall, the initiative has been a huge success! Each Sunday the children select their new responsibilities for the week and complete them daily with enthusiasm for the coveted “smily face” magnet and the possibility of earning their allowance at the end of the week.
Something just didn’t sit right with me to see them stuff the coins in their piggy banks and then plotting to spend every cent on candy, toys and hockey cards. Last week, I gave the children 3 empty jam jars and labeled them; SPEND, SAVE, CHARITY, explaining what each of them was for. They each have their own set and are to put some of their allowance money into each jar. It’s a fascinating experiment to watch. While one child’s “Save” jar is gaining in popularity, the other child’s “Spend” jar is the one with the most coins. It’s interesting to hear about their allocation rationale each week.
Although the jam jar method might seem pretty simplistic, my hope is that it teaches the children about the value of money. It has the potential to teach them about the difference between needs and wants. “Do I need that pack of hockey cards, or do I want them?” “What are things that I actually need?”. It has the potential to teach them about ethics and sharing and being a responsible citizen by giving their earned money to someone or some cause in actual need. And lastly, it has the potential of teaching children how to delay gratification by saving up for something and enjoying the anticipation and achievement of their goals. 3 empty jam jars. Hmmm.....