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Budget-$avvy KIDS 3 Easy Ways to Teach Kids to respect Money BY NIKKI DUCAS my income. I had a little black ledger that held the date, hours worked and the money made. When I was old enough to get a job, I proudly worked as a hostess at a family friend's E ver since my first babysitting job at age 12, I have been tracking four hours on a Friday night quickly turned into 12 by the time I went to college. In college, I eagerly found a job on-campus and was lucky enough to come home on breaks to a full- time/part-time restaurant. What began as department store. Even before I was being paid $2 an hour to babysit the neighbor's kid, I was walking with my dad to go to the flea market to sell women's shoes on the weekend -- happily being "paid" in penny candy. I'm not sure if it was my father's intention to teach me the value of a dollar at an early age or rather to keep me out of trouble in high school, but looking back, I realize that teaching young children about money helps them to understand where money comes from. position at a local The Earn Your Keep System At 3-years-old, my son doesn't get an allowance, but earns a sticker for good behavior. When his sticker chart is full, he gets to choose a reward. Whether it is a toy he has been yearning for or a visit to a favorite game room or restaurant, no matter what he chooses, we make such a big deal about it that he exuberantly tells everyone he sees why he received the treat he got. This makes the reward more special. The Envelope System As he grows up and I am unable to keep the constant stream of commercialism away from him, I can only hope he doesn't break open small insignificant stuff isn't important and he will want to save all his money to buy that "I've-been-waiting-my-whole-life" toy. This method will help him to ask, "Can I afford it?" without taking from his other envelopes. charity. It is my hope he will eventually see that buying continued on pg 22 his piggy bank to buy the newest video game app. Besides having a savings account, he also has the envelope system -- each marked to spend, to save and to give. The envelope system helps him understand he can spend a percentage of his gift money now (allowing for immediate gratification), and the rest must be put into savings with a portion given to www.fredericksburgparent.NET 21 Raising

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