My almost three year old Aliana told me she wants to earn her OWN money. She offered to help babysit her 16 month old brother and I said DEAL!
We have been using the kitchen timer set for 15 minutes and she has been “watching” baby brother while I do chores. She negotiated a rate of one quarter per 15 minute time period. She lets me know if he has a need she cannot help him with and agrees to not fight with him during this time.
She is saving her hard earned pocket change in a small bag in her purse so she can buy treats at the grocery store.
I love this “game” because it is teaching her responsibility in so many ways. She is learning about time, the value of money, caring for others, and how to save for something special. It is improving her communication skills as “negotiates” her pay, tends to her brother, and talks to me about his needs.
I am always close by keeping a sneak peak to ensure nothing goes awry.
How do you teach your kids about money, time and responsibility?
Here is a podcast on this issue!