Yesterday I set up our Money Management and Behavior System for Children called Quarter Coaching and explained how it works. Today, I want to expound a little further on the quarters and provide you with a week long example.
When setting up this program I wanted to reward the children for contributing to the family and obedience all while teaching them how to tithe and budget wisely. I wanted something tangible but easy to keep track of.
After trying several different amounts of money, I chose $4.00. First it divided relatively easy with the percentages and left a quarter per day for the child to keep or lose. Second, $1.50 of spending money a week allowed the child enough money to purchase small items (a list will be shared on Thursday) or save for larger items.
For convenience reason and because each child has about the same contributions each day, I give each child the same amount each week. But shouldn’t the contributions increase with age? Yes, they should but because of Bubs’ disabilities and Little Man’s ADHD we have to do things differently in our family. The amount that you choose may very well differ from ours.
A close friend of mine uses tickets instead of quarters. Each ticket is worth approximately one penny. My niece (age 3 1/2) collects pennies. A penny is equivalent to $100 in her mind. The key is to pick something that is easy for you, age appropriate and tangible for your child.
Another wonderful feature of the Quarter Coaching program is that I always know the consequence for little acts of disobedience – the loss of a quarter. I don’t have to rummage through my mental toolbox trying to come up with an idea. Secondly, my children know the consequence. Third is the natural consequence that occurs when the child wants to spend his money. He is once again reminded that his behavior has lasting consequences.
Because Little Man has the most turnover with quarters, I will use him as the example.
Sunday – Little Man received 50 center for tithing, $2 for savings, and six quarters for the week. He already has collected $2.00 in his spending drawer from prior weeks.
Monday – Little Man does his contributions (chores) but fails to come to me when called. He gives me one quarter.
Tuesday – He back talks his Daddy and loses a quarter.
Wednesday – He notices that the back porch is very dirty and sweeps it off without being told. He received an extra quarter.
Thursday – After being warned, Little Man uses an unloving tone with his brother and loses a quarter. He asks to play Charlie Church Mouse on the computer for 15 minutes. This costs him a quarter from his spending drawer.
Friday – After a rough morning, Little Man loses two quarters for an ungrateful heart at breakfast and not clearing off the table when finished.
Saturday – Little Man would like to purchase a kid’s meal at Chick-fil-a but only has $1.75 in his spending drawer and it costs $2 to upgrade his meal to a kid’s meal. He is reminded that he spent one quarter to play the computer.
Sunday – Little Man takes the remaining two quarters from his weekly container and moves them into his spending drawer. He is given another 50 cents for tithe, $2 for savings, and six quarters for the new week.
Remember that on Monday I will be answering your questions, so be sure to leave a comment!