tag:blogger.com,1999:blog-23527524.post112482219717136915..comments2023-04-14T02:37:49.923-05:00Comments on Celeste Creates: Money ManagersCeleste Createshttp://www.blogger.com/profile/02027463910400962094noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-23527524.post-38245327263155650422008-04-21T10:20:00.000-05:002008-04-21T10:20:00.000-05:00Celeste...I love this project! My kiddos aren't q...Celeste...<BR/>I love this project! My kiddos aren't quite there yet, so I don't have any good suggestions for you. I'll be coming to you for suggestions in a year or two!<BR/><BR/>Thanks so much for your kind comments on my blog. My email is meganliving @ yahoo.com. Let's chat!<BR/>Love in Christ,<BR/>MeganMeganhttps://www.blogger.com/profile/06965710603250513119noreply@blogger.comtag:blogger.com,1999:blog-23527524.post-9178796645589665032008-04-16T18:30:00.000-05:002008-04-16T18:30:00.000-05:00Why don't you use a real savings account?? I have...Why don't you use a real savings account?? I have an account in each child's name that is at ingdirect.com. They earn close to 5% interest and there is no minimum balance. I am the meanie though. I require that 50% go into savings, unless it is birthday money or holiday money. <BR/><BR/>The kids don't give money to charity or the church yet. They give away books and toys periodically throughout the year. The toys seem to teach a more valuable lesson on giving than money. The money concept is too vague and not concrete enough for them. But Katie does learn about interest from the savings account.<BR/><BR/>In terms of allowance, there isn't one. They get a quarter for helping with tasks such as unloading the dishwasher or other things outside the normal realm of expectations. Again, I am cheap. <BR/><BR/>But it seems they find money all over the place, and their stash builds quickly. Grandparents tend to help the cause too, by handing out spare change.<BR/><BR/>Sounds like a great start to a plan. If you want to try the ing thing, let me know first, since we can bank an extra $10 off referring you, and you get something like $25 to $50 just for opening an account with them.<BR/><BR/>Oh, and I purchase the coin wrappers at Walmart and we periodically wrap coins and take them to the "big bank" to exchange for dollars. Good practice in counting money.Crafty Momhttps://www.blogger.com/profile/00130841631544916050noreply@blogger.comtag:blogger.com,1999:blog-23527524.post-44640761972056903312008-04-16T18:28:00.000-05:002008-04-16T18:28:00.000-05:00That sounds great! We do something similar, only ...That sounds great! We do something similar, only more visual for them. We put any money they recieve/earn in their piggy bank. On the first of the month (Pay day!), we divide them into three envelopes: 70% Spending, 20% Saving, and 10% Giving. It has to be in an envelope before anything can be done with it. This serves two purposes: 1)Teaches them not to spend as soon as they get - wait and plan 2)allows us to get them started on a "Dave Ramsey" plan from the start.<BR/><BR/>We've been doing this for a year now and it works very well. I do keep the envelopes put up (like a bank) and I will review the contents with the child whenever he requests.Mom of boyshttps://www.blogger.com/profile/08467115998022919100noreply@blogger.com