Monday, October 10, 2011

Show Me The Money!

See these kids?

New Winter Coats

They want some cash.

Mallory....will do anything for money, is a good saver and knows what a quarter, dime, nickel and penny are.

Alex....doesn't like to work for money, loses it before he can save it and can't correctly identify a coin.  He also thinks that Obama is on the one dollar bill.

We recently decided that it's time for the kids to start learning about money, saving, budgeting and the government.  We want to raise them to be good little Republicans so we don't have to watch them holding signs on TV someday.

We've come up with a list of chores for them to do and they will be paid at the end of each month.  They will receive a paycheck with an explanation of the taxes that we took out and then we'll take them to the bank to cash it.  They will be required to save a portion of each check.

Side note: on April 15th we'll gather the taxes we've collected and let them watch as we flush the money down the toilet.

A few days ago, Mallory ended up with $2 and it was burning a whole in her pocket!  She needed to spend that money so I took her to JoAnn's craft store to see if she could find something.  I also gave her a 40% off coupon.


She bought a wooden birdhouse and 6 little pots of paint.

Mallory did the entire transaction all by herself and she was thrilled that she got .27 cents back!  But then she was mad at Daniel (the cashier) because her receipt says that she saved .40 cents.  I explained that she had to pay .13 cents in taxes on her purchases.  Now she's pissed at the State of Colorado!

And now she wants MORE DOLLARS!!

19 comments:

  1. Are you going to post the fruits of her labor with the birdhouse? :)

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  2. I love this! So glad little M won't be picketing Wall Street anytime soon!

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  3. Hahaha. I laughed one of those from the gut laughs at least a dozen times here. It's going to be a good day when that happens and I haven't even finished my first cup of Joe.
    The coats were great and loved the line about raising good little Republicans so you wouldn't have to see them carrying signs someday on TV. :)
    OMG (Obama Must Go) You are too funny.
    Pam

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  4. I just can't believe that y'all already have to wear winter coats.

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  5. This made me laugh. Please, please, please video that money being flushed! I will pay M to see her reaction!

    What an important lesson you are teaching your children. I so wish we had started something like this with our girls, I think it may be too late now!

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  6. You can totally tell in that picture that they want something. Ahhh I love kids, they will do anything when you bribe them with the right prize :)

    Oh my Gosh I am cracking up! What a smart little lady you've got there.

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  7. Are you really going to flush it?? Sounds like she did some good shopping. Love JoAnn

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  8. That is funny!

    I want to see her birdhouse!

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  9. I LOVE the idea of teaching them money, how to earn it, save it, etc.

    But will you please, for the love of all things money, flush FAKE MONEY down the toilet? It's a wonderful analogy that should be demonstrated but the thought of real money (aka our CALI trip money) going bye-bye makes me ill.

    Love their new coats! =)

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  10. Way to teach them about fiscal responsibility!

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  11. She's too funny that she's already ticked at the system, but then, how could she not be?

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  12. This is a really good exercise for your kids! My best friend does this with hers, too. Except they also tithe their kids money, so then their kids can be mad at the government and the church. :o)

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  13. I think it's hilarious that you're teaching them to be good little Republicans. Send them my way next, we'll give em a crash course next.
    AND, no state taxes. :)
    Also, with the way Obama is printing the damn money right now...he WILL be on it soon I'm sure.

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  14. Ha!

    That's a lot of tax. I'd be pissed too.

    And I want more dollars.

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  15. I want more dollars too.

    and this entire post cracked me up- good little republicans!

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  16. HA! Taxes are a big fat pain in the patoot! :) We have been chatting a lot about money and ways to earn and save too. We've started crafting again {hair clips, and soon gift tags and cards}, and we're going to sell them at the girls' dance studio {there is a little boutique in the front}. Not sure if any will sell, but I sure hope they do. A great lesson in finance!! The girls will get to split any money earned, but they are required to take half {of the half} and put it toward their recital costumes.

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  17. LOL Mallory sounds like a likely TEA party recruit. Too, too cute!

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  18. Learning about taxes is always a super buzz kill, even at such a young age it's easy to see that someone is stealing right from your pocket!

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I love you. You are my best friend! Your hair looks fantastic today!