I took the kids to Tysons Corner this past weekend for a little shopping trip.
- My daughter, age 8, bought the American Girl of the Year, Saige, a mini doll and 2 doll stands for a total of $134.
- My son, age 5, bought a 930 piece Lego Set for $115.
They each spent their own money that they have saved since we started our jar system last summer.
In addition to this:
- My children spend their own money at book fairs and stores (including Amazon for their Kindles) if they see something they want.
- My children have donated their own money to several different charities of their choice including each other's fundraisers AND church.
- Each month my children make a trip to the bank and deposit money into their 'real' Savings Account.
Growing up, my parents never taught me about money and I realized last year that I wanted my kids to learn at an early age the importance of saving and understanding how much 'things' cost so I started a 4 Jar Saving System.
My Mom, Husband and In Laws all 'poo poo'd' my jar system when I started it. The grandparents had even told me they would rather give my children toys than money simply because I don't let them just 'spend it on whatever they want'. (Actually, their Spend Jar does allow them to do that, it's just a smaller % of what they actually earn or receive as a gift.)
Since Christmas I noticed the others have started to come around to my pleas of 'no more random toys' but after our trip this past weekend, all four of them have told me how impressed they are with the kids and their own excitement over these accomplishments and that they now see this 'jar thing' really works.