We’re a week in the new year and you’re probably focused on your resolutions for the year. To lose weight, stop procrastinating, spend more time with family, yada yada yada. But have you thought about your kids? Maybe this is a good time to teach your kids what it means to earn something so they’re better prepared for the future. And implementing a reward money system in your daily lives actually works.
We live in a world where many of us are finally able to give our kids what we didn’t have growing up. But not to go overboard, I’ve made it my mission to show my kids that they have to earn everything they wants.
This started in the summer when she was driving me crazy at home and asking for McDonald’s everyday. And after over 6 months, I’m proud to say it’s worked!
Now what did I do?
Good Girl Money was born!! After doing this for about 6 months, it’s worked! She doesn’t ask for random things unless she knows she has enough “good girl money” for it. She’s more understanding, accepting, and is learning to count money.
Here’s how you start.
Create a chart with the duties you want your child to do. They should be learning opportunities or showing them home responsibilities.
Think about the price associated to each line. How much is it worth? You can make this as simple or complicated as you like. Just remember that this is a fluid chart, things can change month to month, season to season, etc.
| Sleep alone | $10 |
| Brush your teeth | $1 |
| Make your bed | $1 |
| Read a book | $2 |
| Clean up all your toys | $5 |
| Do extra math homework | $5 |
As your child “earns money,” they can “spend” that money on fun activities and outings.
These should be normal things for your household. Don’t suddenly add a Disney trip to the list. Make it fun activities, meals out of the house, and things close by that you can afford.
| McDonald’s | $100 |
| Chuck E. Cheese | $200 |
| Empire Adventure Park | $300 |
| New toy | $50 ($10 max) |
| Park | $100 |
| Pizza | $100 |
Again, this is an every growing list as her interests and hobbies change. And I will definitely add on to this list like emptying the dishwasher, taking out the trash, helping her sister with homework and whatever else my mind comes up with.
You can also take this a step further and take money away for bad deeds like leaving their computer at school or fighting with a sibling.
Making the money
Very important that you don’t go crazy with this. I, of course, designed a pretty template of fake money because my design mind just wouldn’t let me doing anything else. But the possibilities are endless!
- Make your own on the computer
- Use index cards or paper, then just write it out
- Buy my template for boys, girls, or general kids
If you’re making your own, then include the usual currencies — $1, $5, $10, $20. And make/print A LOT! This is paper and will get damaged over time. And you could have an overachieving child that earns $50 a day. Anything can happen.
You can also laminate them or just wrap them in packing tape to increase it’s life span.
Be committed!
Once you start, keep it going! It’s the only way your kid is going to learn to work for what they want. It’ll also train the push over parent to stop saying yes to everything. They’ll pause and question whether that activity or out of the blue request is something they can “afford” or not.
Now here’s an important part. YOU need to remember to give them their money. EVERY DAY! I was doing pretty good in the summer but once the school year started, I started slacking.
Completely my fault but there’s a million and five things happening that “good girl money” was the last thing on my mind. A reward chart like this is a good way to check what has been done and what she’s owed. It’s reusable, practical, and can be used for more than 1 child.
Again, you can buy something like I did or just have it written down in a calendar or notebook. Whatever works for you because this isn’t meant to make your life harder or more complicated than I’m sure it already is.
So don’t make yourself crazy with this! Is should be fun, educational and an enlightening experience for all.
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