Other than going back to just cash, has anyone put together a plan to not just teach, but show our little ones that money is why we work and it has a limited amount? It almost sounds crazy to ask.
But it was such a lesson to learn seeing my dad grab a few 20s out of the “special” kitchen cabinet when we went out to dinner. And if there wasn’t enough in there, he had to ask my mom if she had more in her wallet. To them, at the time, it was just logistics…but NOW it has become an extremely important lesson they didn’t even know they were teaching.
I haven’t actually implemented this, but I met a super mom who did this…
She would give her daughter $2 a week as an allowance. She would have her daughter give 10% to church, 10% to a charity (and at the end of the year she would write a check for the full amount), 10% for savings, 10% toward the “family home” and then she would have the rest to buy snack at school. If the child chose to spend it all in one day, nothing more would come until the following week. The child had a really good understanding how money worked!