Some time last year, I read a post by the Humans of New York about a dad teaching his children how to save and invest money. That post was very interesting and the method that the father used is very easy simple. Every week, the child receives a dollar for allowance. Then he gets to choose which section he would like to put his money into. There are 4 sections – Save, Spend, Invest and Charity. I think this is just the perfect way to teach children about money and kindness. It helps them to become financially responsible.
I started this project with Ashley after reading the post. These are her little money sections. Every week, my husband and I give her a total of RM10. So, she will decide for herself where she wants the money to go.
This clever idea is working pretty well. So far missy has only used the Spending Money 3 times to buy her favourite books and a jar of cookies. Her Save and Invest boxes have the most money in them. I think we would need to discuss on where or who she would want to donate her money to.
I love this inspiring way to teach the children