Jump to content

DS "earning" money for toys
Any suggestions welcome


  • Please log in to reply
9 replies to this topic

#1 Unatheowl

Posted 17 November 2012 - 09:18 AM

Dh has decided that we need to teach ds the value of money.  I totally agree in principle.  Just not sure the best way to implement.

Dh wants to write a chart of the cost of all the toys that ds wants and when he saves up enough money to buy them he can or he can choose to save more and buy a more expensive one etec.  Great.  The thing I would like suggestions on is how exactly is ds to get this money?

I am a bit against chores for money because they are things he should be taught to do anyway.  Anyone have any suggestions?  How do you do it?  Is it appropriate to give money for chores?

Thanks for any suggestions

#2 PatG

Posted 17 November 2012 - 09:27 AM

Is it possible to have chores he is expected to do no matter what (and suffer consequences such as losing privileges if he doesn't) and then some new "jobs" that he gets paid for?  But he isn't able to be paid for the new jobs if he hasn't done the standard ones....  How old is he?  This is in the 3-5 years section and I think 5 is a little too young for teaching about money to that extent.

Possible "jobs" - helping with washing the car, folding family's clothes, weeding, sweeping outdoor areas.  You possibly don't want to attach too much money to any of these so maybe he could have pocket money and then the jobs get him and extra 50c/$1.

#3 Froger

Posted 17 November 2012 - 09:32 AM

I'm assuming your Ds is under 5? IMO there is no way an under 5 is going to understand the value of money whatever you do. The whole concept of money and placing a monetary value on things and on work is just too complicated.

There is also no way I would ever pay any of my kids for working around the house. You live in the house, you have to do work in and around the house. That is just the way it is.

I really hate toys though. I never buy my kids toys (apart from board games and decks of cards), I can't bear to waste money on what is essentially a heap of junk that is going to be broken before long. I have found and resuced all my children's toys that they have, apart from a few that have been bought for them by other people.

My kids spend alot of time making their own toys, and they actually do a fabulous job. The older ones makes really good things for the younger ones. Really good toys, armour and costumes for the little ones, using carboard boxes that other people were just going to throw out or old scraps of material, old pot lids and the like.

My younger teens also are friends with another no toy family. And they spend they time getting unwanted stuff from all over the place to make things, including a really fabulous tree house.

I personally that feel having to find and make your own toys is the best way to teach kids the value of "things". This may be a little hard for under 5s, but they can still just use stuff from around the house for imaginative play, rather than store bought toys.

#4 Who is me

Posted 20 November 2012 - 04:13 PM

DS (3 and 3 months) earns money to buy trains. He is expected to do certain household tasks like putting away his underpants and socks, tidying his toys and putting his plates and cups in the sink, so doesn't get anything for those. He has the choice to do other jobs to earn money. He has chosen the jobs, and he likes washing the dishes (especially the frying pan), dusting and wiping the benches. He gets around 50c per job, and he has his own purse that he puts it in, so it's ready for when we are at the shops.

There's no pressure on him to do it, it's only if he wants to.

It has come in useful for when we are shopping and he asks for things - I ask him if he has any money, and he has to buy it himself. The first couple of times, he got upset that he didn't have his coins anymore, and wanted me to go to the shops to get them back! He's learning though and now he knows once he spends his money, it's gone.

#5 ellebelle

Posted 20 November 2012 - 04:23 PM

We really need to know age of DS. For my DS, I have made him sell toys on Ebay for the last couple of years. He is now 8. It has been amazing though how once the money is given to him, he's not so keen on spending on said new toy. Basically, with birthday in July and Xmas in December, he gets enough presents not to want to buy too much else in between. Over the last six months, he has also been rational enough that I can say x cost $30 new and we got $10 on Ebay for it and he is coming to grips with depreciation!

I remember we had to save for toys from when we were 5. We used to get 50c a week to wash dishes and then every now and then our grandparents would slip us some coins as well. Kids has a LOT less toys when I was young though.

#6 ellebelle

Posted 20 November 2012 - 04:33 PM

Sorry - have just noticed forum is 3-5. Not meaning to sound judgemental but does he have lots of toys anyway? When my son was that bit younger I just said no an awful lot. He was thankfully also quite entertained by Happy Meal toys during those years! As per my prior post, now that he has got money he's really not that keen to spend it!

#7 Unatheowl

Posted 20 November 2012 - 04:38 PM

Hi, thank you all for your replies.  He is 4.5 years old.  I'm inclined to agree with those who say he doesn't have any idea about money at this age however he needs to learn sometime.  imdot want him to becaomse one of those adults who still dont understand lol original.gif

Yes, he does have a lot of toys sad.gif. We are stopping that now, hence the buying them himself thing.  There are some good ideas here, thanks.

#8 g_uzica

Posted 21 November 2012 - 07:34 PM

DD just received this money box for her 4th birthday and grandma nicely donated some initial start up money. http://www.moneysavvykids.com.au/ordering.asp

We'll be using the money and supermarket catalogues, as dd is a lolly freak, to start learning about money and the cost of things.

In the new year she will also be receiving a token amount of pocket money each week that is not linked to chores that she can use, though she will have to save some of it each week.  DD's daycare also does a lot of money raising activities throughout the year, so she will be using her money next year for red nose day, etc also.

DD is not one who asks for things when we are out, as she prefers doing craft activities to actual toys, but we thought it's never to young to start learning about money and the cost of things.

Edited by g_uzica, 21 November 2012 - 07:38 PM.


#9 Mishu

Posted 21 November 2012 - 09:07 PM

DS (6 1/2) has only just now 'got' the concept of money; school has helped with that. We tried earlier, but it just didn't work for him - I think kids have to be old enough to understand the concept of the value of money. And I suspect anything under 5 might be too young. DS still struggles sometimes to understand that 2 x 10 cent coins is worth less than a 50c coin. He seems to get distracted by the number of coins rather than focusing on the total value lol.

For what it's worth, DS has a number of chores that he must do, as a member of this family (keep his room clean, put his pjs away, pick up his toys, etc). He also has a number of chores that he can choose to do (or choose not to do). If he does them, he earns his pocket money; if not, there's no pressure on him - but he doesn't get any pocket money. He sets the table for dinner every night, waters the indoor plants, helps take out the rubbish and feeds the chickens.

He's been motivated by certain toys and has been saving up for 3 or so weeks, and then can go and buy his own toy. I like the fact that he has started to save up for something he wants, rather than looking for instant gratification.

#10 MrsShine

Posted 21 November 2012 - 09:59 PM

Absolutely agree with Mishu.

When I was growing up, we were expected to make our beds, take turns drying and putting away dishes, setting table, bringing in washing etc. for no pay. It was just part of contributing to a household.

But if there was something I really wanted I had to do more: iron, wash the car, help weed garden etc. etc. but I was more like 8 yrs + and I got $1, $2, $5 pre-agreed depending on the task.

A friend buys her 10 yr old n 8 yr old DS's what they need: clothes, food, a certain amount of toys etc. but especially during school holidays she mAkes them use birthday money/pocket money to buy extras. She insists they take out $10-20 at the beginning of each holidays and when they are in a newsagency or supermarket and they say "can I have this ice cream, lollipop etc." she says "sure, if you pay from your own money" & she says its amazing how much they consider the purchase when it's their own stash!!!!




1 user(s) are reading this topic

0 members, 1 guests, 0 anonymous users

 

Video: 10-week-old baby sounds like she says 'I love you'

It’s mixed in amongst garbled baby talk, but this 10-week-old's apparent attempt at telling her parents that she loves them has made her an internet star.

I only enjoyed pregnancy after booking my caesarean

To say I became obsessed is something of an understatement. Everywhere I went I found cause to be reminded of my impending pain.

When your bundle doesn't bring immediate joy

One mum says joy is very a personal feeling and expecting all new mums to feel it in the months after their baby born may do more harm than good.

Lessons learned from my toddler

Blogger Kiran Chug explains why she is going to let her toddler make more decisions for himself.

Family welcomes first baby girl in more than 100 years

The Silverton family has heard the phrase "it's a girl" for the first time in four generations.

When a community of kindness steps in

In future when someone I care for, or even someone I barely know, is experiencing a difficult time, I will not overthink it. I'll follow my heart.

Mum in Business: Jac Bowie

Jac Bowie is the founder of Business in Heels, one of the fastest growing women’s networking events in Australia. She shares her story, including how she juggles work with a young family, and ways to work smarter.

What not to say to a mum of twins

Being a mum of identical twin boys stirs up great interest and fascination. It also opens itself up to nosy, invasive questions, as well as huge assumptions.

The mums suing over unplanned babies

A mother-of-five who calls her two youngest sons "miracle babies" is just one of many mums seeking financial compensation for their children's unplanned conceptions.

Video: Dad sings 'Hallelujah' to his daughter every year

It's a gorgeous song to begin with, but this dad's version of Hallelujah, sung for his young daughter, is especially touching.

Constipation in babies when starting solids

While starting solids can be frustrating and messy (yet also fun!), introducing solids can also play havoc on tiny digestive systems.

Parents reunited with baby snatched from hospital

A mother whose newborn baby was snatched from hospital has spoken of her joy and relief at getting her daughter back.

In defence of the bumpie

Are bumpies - bump selfies - really "exhibitionism of the weirdest kind"?

Life on the other side of the fence: Why I'm child-free and quite content

Acknowledging that motherhood isn't a bed of roses – to begrudge lack of time, sleep, money and spontaneity – is sacrilegious and a no-no, especially by mother superior-types.

'Go the F*** to Sleep' author's new book for frustrated parents

A sequel is coming soon to the 2011 hit book 'Go the F*** to Sleep' - and this time, it's about mealtimes.

Win a $200 Pumpkin Patch voucher

Fill out this quick survey and tell us in 25 words or less your best pregnancy or parenting tip - you'll go in the draw to win a $200 Pumpkin Patch voucher.

Download now: Essential Kids Activity Finder app

Got bored kids? Quickly find the best activities for kids wherever you are in Australia with the Essential Kids app.

 
Advertisement
 
Advertisement
 
 
 

What's hot on EB

Losing yourself to motherhood

While watching your baby grow into a unique little person is exciting and wondrous, the intensity of meeting everyone else?s needs can ever so sneakily overtake your own needs for self-care.

Tearing during delivery: the facts

Almost all women will experience bruising, grazing or tearing after a vaginal birth. Depending on the degree of tearing, there are various treatments available.

6 tips for a day out with a baby and toddler

Outings can be lots of fun with the kids, but there are inevitable challenges. Here's some information about days out to help you be a little more prepared.

Why I invited a dozen people to watch my son's birth

I sent invitations on burgundy scrapbooking paper stamped with a field of poppies, and told each person why I wanted him or her there. I warned that there would be nudity.

Getting labour started: tips for a natural induction

When your baby?s due date comes and goes without so much as a pop - let alone a bang - it can be disheartening. Mums and a doula share their stories of natural inductions.

7 mistakes old hands make with new babies

As I sat across the table from my friend ? me, a seasoned mother of three; her, a brand new mum ? I thought of all the mistakes an old-hand parent can make when visiting a newborn baby.

That's my boy: a dad's diary of the first 4 months

Unbearable anxiety, unspeakable joy, constant exhaustion and bouts of frustration ... The many shocks of first-time fatherhood resound in a dad's diary of his son's early months.

One of the most important things a new mum can do

Finances may not be as cute as a newborn, but with many women?s working arrangements changing post-baby, monetary matters need attention too.

In defence of the bumpie

Are bumpies really "exhibitionism of the weirdest kind", as one writer has claimed?

Personalised baby gifts

We've scoured the internet to find gorgeous personalised keepsakes and nursery decor to record baby name and dates. They make great gifts for christenings, name days and birthdays! (All prices in AU.)

 

My Wellbeing

Making time for me

We look at your wellbeing, covering health, relationships, beauty and fashion, mind and body.

 
Advertisement
 
 
Essential Baby and Essential Kids is the place to find parenting information and parenting support relating to conception, pregnancy, birth, babies, toddlers, kids, maternity, family budgeting, family travel, nutrition and wellbeing, family entertainment, kids entertainment, tips for the family home, child-friendly recipes and parenting. Try our pregnancy due date calculator to determine your due date, or our ovulation calculator to predict ovulation and your fertile period. Our pregnancy week by week guide shows your baby's stages of development. Access our very active mum's discussion groups in the Essential Baby forums or the Essential Kids forums to talk to mums about conception, pregnancy, birth, babies, toddlers, kids and parenting lifestyle. Essential Baby also offers a baby names database of more than 22,000 baby names, popular baby names, boys' names, girls' names and baby names advice in our baby names forum. Essential Kids features a range of free printable worksheets for kids from preschool years through to primary school years. For the latest baby clothes, maternity clothes, maternity accessories, toddler products, kids toys and kids clothing, breastfeeding and other parenting resources, check out Essential Baby and Essential Kids.