Earn It, Learn it: Teach Your Child the Value of Money, Work and Time Well Spent
Earn It, Learn It: Teach Your Child the Value of Money, Work, and Time Well Spent (Earn My Keep Allowance Program)
In this book Alisa advocates that your child choose a career and get paid for it like a salaried worker instead of simply giving him an allowance.
Your child is to do the following
1. Select his own career from the list of careers or spell out his own preferred career.
2. Pick the tasks from the selected career and carry them out.
3. Be paid for their effort in executing the tasks.
The task for the chosen career can be pecked at your child’s ability level. Monkey boy chose the career as an accountant as one of the careers which he would like to try.
I’ll be letting him try the suggested activity of using the abacus to calculate the cost of a field trip. He would have to list what he had to pay for and the cost for each item before using the abacus to add up the cost to find the total cost of the trip.
I will also let him do some simple budgeting with the household grocery account for the next few months.
My thoughts
I find the tips given in Alisa’s book excellent and it does seem more reasonable for the child to learn how to earn his keep. I find that it is an excellent way for a child to learn about different professions and try them out at this stage. By working they will not take money for granted and be more prudent in their expenditure. It is a great way for kids to learn.
You can purchase a copy of this book for @$10 from Amazon
Disclaimer: I received a copy of the book for review purposes. All opinions are 100% my own.
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January 12, 2013 @ 11:20 am
Oh wow – I love it! It is definitely a goal for us to both: 1) teach kids the value of money; and 2) reward them for work (similar to adults so they don’t feel like slaves). So far we really hadn’t had many good ideas, aside from the usual chores and the occasional financial windfal for them when there’s a driveway to shovel. I think this could give us some ideas for giving the kids consistent work and consistent pay.
January 12, 2013 @ 1:34 pm
Enjoyed it very much. Sounds like a good read.
Now if we could just figure out how to reward them for being an entrepreneur.
Regards,
Dr. Hale
January 12, 2013 @ 2:14 pm
Haha Monkey Boy.
Yeah, this kind of structure and open discussion of funds is priceless.
My gf and I were talking about how neither of our parents ever spoke to us about what it took to make ends meet.
Good, informative review.
Uttley
January 12, 2013 @ 2:25 pm
As early as now I am teaching my son to budget his money and not to spend too much, dont want him to be like me when it comes to budgeting.. I sucks eh!
January 12, 2013 @ 4:59 pm
I thoroughly agree with this method for teaching children the responsibilities of living.
January 12, 2013 @ 6:14 pm
strongly support teaching kids to work with money starting very young. great topic.
January 12, 2013 @ 11:24 pm
I also want to teach my kids to value money and to work for the things they want to buy. I ask my daughter to choose just one toy she really likes so she would not waste it.
January 12, 2013 @ 11:52 pm
Oh, I will have to check out this book!
January 13, 2013 @ 4:23 pm
I initially did not teach my child on savings but he is saving a lot which he initially placed in a shoebox! Now it is in the bank! I guess he followed his Dad subconsciously. If given the chance, learn what this book has to say. It is amazing if the kids are money conscious.
January 14, 2013 @ 12:35 am
Great book to buy and have. It will be a good read for me and for my whole family as well. Hopefully, I can buy a copy for us soon!
January 14, 2013 @ 12:33 pm
Terrific insights and a great tool for helping kids learn about money. Wish they had it when I was younger. 🙂