At this stage they’re calculating and dividing their allowances into tithe, offering and spending money categories. They are diligently devoting 10% to tithe, 15% to savings and using the rest as spending money.
They are doing a great job and I believe it’s time to introduce lessons on basic accounting and consumer math. In and effort to incorporate as much real world experience as possible I plan to let them begin managing their own savings account bank registers and making more of their on in store register purchases.
In the meantime I am looking into resources like the ones above that will allow them to practice a bit at home first.
Do you purposefully teach your children money management skills?