Stashing the cash
Shirley Erwee
Hi Ka-Ching Members
This is a rather practical question that I hope will be answered in more than one way:
How do your kids 'stash their cash'?
How do they store the money in each category for Savings, Giving, IGAF and Contingency?
Regards
Shirley
www.shirleys-preschool-activities.com
www.south-african-homeschool-curriculum.com
Gregory Bunyard
We have all their documents (chore lists etc) in a Flip File. Then all
their money in individual envelopes labelled per category. Jess has
recently said that her money falls out so I am going to replace the
envelopes with bank bags. Both of the above with a pencil live in a
coloured plastic folder (from CNA) next to their beds.
Blessings
Wendy
Gregory Bunyard
One of the other families has built a four compartment money box out of
wood with small locks on it. Here the Dad was quite ingenious in his
design and well done to him! In this way it was far easier for them to
actually manage the distribution of money into the four areas Savings,
Giving, IGAF and Contingency. We are looking into producing a proper
'Ka-Ching! Money Box' with the four compartments, and including it in
the course. When we do will offer it to all Ka-Ching! Members.
Coming up - watch out for some tips of new IGAF suggestions, and
savings ideas so you earn some interest!
Regards,
Greg Bunyard
sk...@telkomsa.net
My children are all adult today and they have very little money
problems as both of us, my wife and I always taught them how to spend
money rather than how to save their money.
All this about money boxes and envelopes are nice to have stuff I
suppose. The truth of the matter is, that a person must be taught how,
when and where to spend and then again, how, when and where not to
spend their money.
Somewhat holistic I'll say, yes, but it works. This comes from my
parents, who saved Thirty Thousand Rands after they retired on their
pension money(thirty years ago). They always had enough to eat, they
went on holidays when they chose and they were content to be the way
they were living.
Many people teach their children how to save but never how and on what
they should spend their money, the parents saying: once they are out
the house it will be their own responsibility. Problems is mostly those
children who never learned how to spend, end up in financial trouble
because even their savings cannot stop their illogical spending.
Regards to all and best of luck revising your strategies.
Charles