I was watching Dr. Phil a few days ago. It was about teaching kids to save rather than spend. They had a panel of kids on there that they asked how much different necessities of life cost (like house payments, car payments, utilities, groceries, etc). Some of the kids were way off, they had no clue. This got me to thinking about my own cubs (although the kids on Dr. Phil were quite a bit older than mine, I figure its never to early to learn).
Papa and I are really hoping to help the cubs get a realistic grasp on the value of a dollar. They like to go to the grocery store and plunk quarters into machines and get a little toy that ends up broken (or is broken right out of the machine). Before they know it $3-$4 is gone and they have nothing to show for it. We've implemented chore charts for them. They have a chance at earning $3.50 a week (.05 per stickers per chore completed). We are planning on letting them have some of it for fun money, putting some in the bank and taking the rest for donations.
We don't have a homeless shelter or soup kitchen around so the animal shelter is going to be our donation recipient. We plan on taking them to buy a bag of cat food or dog food and then taking the food to the shelter to donate it. They see those commercials for the ASPCA with all of the poor animals and usually end up asking why people are so mean to their pets, so we figure this is something they can relate to. They will be able to see the animals who are going to recieve the food they are donating.
Papa and I have had our own problems with credit cards, we want better for our cubs. We want them to be responsible with money are realize that it doesn't grow on trees.
Some people actually consider spoiling your children a form of child abuse (Dr. Phil being one of them). It makes sense.