Me: Did you have fun?
Him: Yes, can I get a scooter? I really want one.
Me: Maybe you can ask for one for Christmas.
About a 3 minute pause...
Him: Maybe I can do chores and save up for one.
Me: That is a great idea! I am so proud of you for thinking of it.
We started teaching him about saving money around last Christmas. You can read about him saving up for his play set here. I think teaching kids about money is important because it teaches them responsibility, it teaches them to respect their toys if they understand the value, and it show them that things aren't free and everybody has to work to get new things.
We have only been working on it for around a week and he has already earned $18 of his $35 goal. He has been working hard and it helps me teach him that cleaning his room and his toys up is a good thing!
How do you teach your kids about saving and money?