How Do We Teach Kids To Work And About Money?

Saren Loosli, director of Power of Families is so smart when it comes to systems.  She had 5 kids in 5 years systems were key to her sanity. She learned those systems, from her parents the Eyer’s-pretty amazing training if you ask me, and tweaked them to fit her family.

When I asked what the biggest problem that moms face, the number one answer was feeling overwhelmed.  I don’t know a single mom out there, including myself that haven’t felt overwhelmed at some point.

I have found switching your mindset and having systems in your family are my go-to's to combat overwhelm.  It seriously is clutch to keeping your sanity and making your kids feel safe.

I interviewed Saren Loosli on family systems.  She said that we need three different systems, one of them is a family economy. We need to teach our kids how to work to earn money, how to save money, and how to spend money.

Saren’s interview inspired me to teach my 7-year-old about money by helping her come up with a plan to earn a hamster that she was dying to get.  First, we went to the pet store and saw all the costs of having a hamster-food, cage, chew toy etc.  Then we priced it out online as well. We looked at savers and KSL for a used cage to see if we could save even more.

We then made a little chart with a box for each dollar she would need to earn to get everything for the hamster.   She quickly realized that with just her weekly allowance it was going to take a while to earn.

So she decided to do a lemonade stand.  I charged her the price of the lemonade supplies and she got to keep the rest of the money made. Sweet thing, was out there hustling lemonade, and making her little brother yell “lemonade” at all the cars driving by.

 

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