Wednesday, April 2, 2014

The Dollar on the Table

So…while unpacking the kid’s toys at, as Kolten says, our “New New House” one item in particular caught Kolten’s eye as he was exploring all of his toys after the move – one of Keith’s old wallets. 

Kolten brought it to Keith a couple nights ago and told him, “I need a dollar for my wallet”.  The first thing that went through my mind was, “How does he know that??”  The answer is simple…we have been using cash to pay with items more recently because for the first time in a long time we CAN use cash and are not using cards any more (THANK YOU AdvoCare and Financial Peace!)…and everything that Keith and I DO is seen by Kolten and becomes his reality, what he knows, and little by little his views on everything are being shaped by us!  Eventually McKinley will be joining this bandwagon too and it really has gotten me to start thinking about how and what we need/want to do to make sure that these kiddos grow into the true CHAMPION people they have been created to be!  It’s sort of a heavy thought to get my head around sometimes (yes, I just said heavy – IT IS!)

Anyway…back to the wallet and the dollar…:)

So, as I have talked about recently, we have been taking Dave Ramsey’s Financial Peace and I have been reading  Dave and his daughter, Rachel Cruze’s book Smart Money Smart Kids (that is being released on April 22nd and you should ALL go and pre-order!!) and one of the key concepts is to TEACH your kids about the value of work and earning money with paying commissions for work done.  Rachel and Dave talk about starting even as early as 3 years old (Kolten will be 4 in June!!!) at having jobs that your children can do on a regular basis to earn commissions (NOT allowances).  Then as they earn that money, you can work together towards goals of purchases they may want and using it is just a base to teach them about working and money in general.  Then as they get even older, you can teach them the value of giving, spending AND saving.  Like I said before, I don’t wanna lay out everything on here for you – I really do want you guys to read this book – it is AWESOME!!!

So…Keith told Kolten that he would give him a dollar for his wallet if he did some work to earn that money.  Keith told Kolten that he needed to go and pick up the toys in his toy room off the floor and he would get his dollar for his work he did.  So, Kolten went in there and Keith could hear him starting to pick up toys, then he heard the sounds of picking up turn into the sounds of playing (he’s 3 – he gets a distracted easily…I’m almost 30 and I get distracted when I start cleaning!).  Kolten would come back out and tell Keith, “I need that dollar for my wallet!” and they cycle went on throughout the evening of picking up, then playing, never completing the task. 

The next day, I saw the dollar on the table and Kolten told me, “Momma, I need that dollar for my wallet.”  So, I told him (and it was even without hearing this story from Keith first – he told me everything from the night before after I told him my story – YEAH for being on the same parenting page!), “I will give you the dollar if you do some work to earn the dollar.  If you want to earn money, you have to do work to earn it.  Mommy and Daddy aren’t going to just give you money just because you want it.”  Then Kolten said (in true Kolten style), “Okay, okay, okay…what do I have to do?”  I told him he needed to pick up the toys he had played with that morning in the living room.  Well, we had a movie on at the same time and he started to pick up, but soon got distracted again and again.  I reminded him a few times, but eventually he said to me, “No, I not gonna do it…I’m gonna watch this show.”   I told him that was okay and that was his choice, but that he would not get the dollar until he did his work so he could earn his money.  He agreed and the dollar is still on the table.  We have had little talks about what he could do with the money he earns, but for now he hasn’t decided. 

The whole thing has just reminded me in so many ways about the responsibility we have as parents.  We are so incredibly blessed with two AMAZING children and I know they they will grown into amazing, champion adults.  I feel like it is just something that so often if you look into our society that has been taken for granted so often...teaching kids from the beginning not only what we think is "right and wrong" but showing them and being the example they need in this world.  I know in the next few weeks and months we will start to get a plan together as he shows he is ready and he will start to do his jobs each day and week to earn his commissions and we will plan for fun purchases and I am SO incredibly excited to teach him the value of saving and giving.  This child has one of the BIGGEST hearts I have ever seen and I know he is going to do amazing things (yeah sure, I’m a little biased, but who cares ;)).  I am so incredible thankful for people like Dave Ramsey and Rachel Cruze that have brought these ideas to the forward to help truly raise champion children and change how we look at money and how we can teach our children.  I really do hope that you take the time to look into Rachel and Dave’s book, Smart Money Smart Kids, and if you are looking for help with your own personal finances, look into Financial Peace University, it’s truly life changing!!    
Have a BLESSED day friends!  

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