0 sats \ 5 replies \ @bief57 8 Jan \ on: Introducing Kids to Money and Bitcoin Personal_Finance
wow, thank you very much for this, for days I was thinking about ideas on how to teach my daughter about money management and how to teach her about bitcoin, but I couldn't think of anything that was educational or simple options that would be easy for her to understand, she has 7 years and I think your method is pretty cool.
Happy to help and share ideas.
My kids get really excited about making the invoice (I have to help them), scanning the QR, seeing the numbers change on my phone and their wallet, etc.
Will prompt conversations over time, you really don't have to force anything once they get into the routine of it.
I do think that making it a regular thing is very important, doing it once in a while is not as productive.
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The suggestion from the book, and what we do, is that the money is not dependent on chores. They get the money every week.
The money is for learning about money.
Chores are an expectation for being part of the household.
If you tie the money to chores, then you'll likely get a kid who says "I don't care, I won't do my chores." - then they miss out on the financial education.
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I think the same with respect to household chores, they are activities that children must learn to do no matter what, without conditions or rewards, because they are responsibilities that any functional human being must carry out. Only that I had seen that some parents "pay" their children to do "work" (not with respect to the home), for example: "I pay you to assist me in some tasks at the office." But I repeat, your method seems extraordinary to me, I'm going to read the book. thank you!
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We have, on rare occasion so far, paid the older kids for doing specific tasks - raking leaves, pulling weeds, etc - but it's only been when they get a wild idea about earning some extra cash.
We are formulating a plan to make and sell muffins, but the discussion is ongoing.
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