It’s interesting to see how our kids look at money. What’s more interesting is how they handle it. It’s one area I know they’ll need some coaching on and we try very hard to instill in them a sense of responsibility when it comes to their ‘cash’. I don’t know that there is a definitive ‘pay day’ in our home anymore, but they certainly earn their keep doing chores (with lots of reminding, anyway).
Whenever they do get the green stuff they have to divvy it up into their three ‘banks’. Both boys have three glass jars on their dressers, each labeled with masking tape and sharpie marker. One jar is for saving, another is for spending and the last jar is for giving. We tell them that at least 10% goes into giving and the other two we leave up to them. Periodically we make trips to the credit union to deposit their savings. I can tell you just by looking at those jars which son likes to save and which likes to spend. The challenge seems to be finding that balance!