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Elementary School-Aged Kids
Reply to "where/how o your kids keep their allowance $$"
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[quote=Anonymous]We have this same set-up (though 50/25/25). They each keep the savings and charity money in separate marked envelopes. Their money for spending is in a wallet or piggy bank (depending on the child's preference). Every so often, I offer to deposit money into their savings accounts for them. We got them savings account from the same place where we have our checking account (Wells Fargo)--took them in to do the paperwork one day. It has been very simple, since we can transfer money electronically from our own checking account. When it's time for charity giving, they bring out their envelopes and give us the money--we then donate online. (BTW, I know you didn't want discussion but since someone was critical... My kids really take it seriously when we help them figure out what charitable organization to give to--we do that once or twice a year, when enough has accumulated. I think this has worked out great.)[/quote]
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