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Infants, Toddlers, & Preschoolers
Reply to "Please tell me about your child's spend save share piggy bank (take 2) "
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[quote=Anonymous]- Age 4 - DS started asking for money to buy things, so we instated a very small weekly allowance ($1). - He saves half, spends 1/4, donates 1/4. - The savings portion is indefinite. When he's a teen, I'd be willing to discuss ways to use it. Car insurance, post-HS travel, college textbooks. Something along those lines. I'd also love to see him invest some of the money. - The spending portion can be on anything house rules allow. So no sweets or weapons or anything age-inappropriate. - Around 7-8 we'll probably up the amount to something with actual purchasing power and reduce the donation portion to 10-15%, something more sustainable over a lifetime. - Monetary gifts so far have been put in savings. As he becomes more aware of their existence, we'll probably put them in spending.[/quote]
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