Homeschool Math: in the real world
Well, you know what they say “it pays to save”. Yesterday we opened the kids savings accounts. They all received a gift of money for Christmas and have been saving change. So, I offered them a deal. You know me and deals. Well maybe you don’t know me and deals, but I love a little incentive to do something I wouldn’t push myself to do otherwise. Remember, I ran a half marathon just for the goal to keep working out even when I did not want to. (Little tip, it works…for me at least.)
Did anyone else read the report on children who were trained to save early? It was fascinating. Money management and saving is actually a skill that can be learned and learned early. So I am attempting to impart that to our dear young ones. They were sitting at the dinning room table thinking of all the stuff they would buy with their loot. Well, there is not a thing in the world they really need in the way of toys right now, so I threw down a gauntlet. I said, “You can buy whatever you want, or I will pay you $10 right now to save it and put it in the bank”. They all slowly sat for a moment thinking about it. They did the math and added up how much that really meant, and then like dominoes, they all went for it.
With great ceremony we went to the bank. I took pictures. All the tellers oooed and ahhhhhd and told them how smart they were. Then I handed them their ten smackers as they deposited their loot, and counted their coins out loud to the lady. They even signed their names on official paper work….4 times. They were so proud.
My next real world math plan is to give them 5 bucks in various types of bills and coinage. Give them a list of 3 things they need to find, for something we need to create or build, then take them to our local good will and let them shop and buy for real with real money. I just need to think of something we can make together, that we can buy items to work with. Any ideas?
Well the day is too pretty to be wasted, we are off the beach to collect some shells. See you tomorrow.
Peace to all savers today!
Totally adorable pics! I remember my first savings account. =)
Ideas of stuff that could me made from local goodwill loot…
The only one I have right now is to let them explore and come up with something they can make with what they find.
Comment by Karyn — January 6, 2009 @ 3:39 pm
Hey Amber…Jamie Minniear here from Ordinary Community in Cincinnati (we met a few years ago). This is very exciting. We’ve done this “money management” lesson with our boys for years (they are now 13 and 11). They keep a savings account ledger, fill out their deposit slips and endorse their checks. It was painful at first. I heard a lot of “can’t you just give us the money?” But, now they feel very independent. They get allowance (not based on chores, but for $ mgmt reasons only). They put some in savings, giving and spending. They contribute to bday gifts for friends, things they want and they both bought our entire family Christmas gifts this year-they were so into it and it was great to see them enjoying giving more than receiving (well, maybe not more than receiving!) and using their own loot to do it. My older son even helped a man in his twenties figure out how to fill out his deposit slip one day at the bank. Keep up the good work. I love your blog! Blessings, Jamie
Comment by Jamie Minniear — January 7, 2009 @ 8:27 am
One idea: a library/book basket — we have an old wicker-type basket, and put a removable fabric over the edges, and you could decorate the basket/fabric with all sorts of things. This works really well for us not to lose track of our library books. They could buy the basket, the fabric (old clothes), decorations, etc.
Now I need help: you mentioned your shell collecting. We just got back from our first-ever family trip to FL and have cleaned our beautiful shells. How do you keep/use/decorate with your shells?
Comment by Heather — January 7, 2009 @ 10:55 am
Heather that is brilliant. I love the idea. We use a cloth library bag right now, but we could do some type of decorated basket to store things in. Or something to sew….ah yes you have my mind a spinning.
As far as shells, I know I am no fun. I throw them in a tray with a few candles around, and it is my center piece right now. I have tons in a few glass canning jars that the kids look through all the time. I have a few on shelves, I just kind of chuck them anywhere, as they are very plentiful around here. Make something way cooler then that and send me a picture. I can’t wait to see what you come up with.
Jamie, nice to meet you again…virtually so to speak. I love your money story. I pray when our kids are the ages of yours they will have the same thrill. I learned early how to work and make money, and it has totally shaped me as an adult. I can turn ANYTHING into a business and make money. Trust me ask my friends. It is kind of hysterical when we all get to talking about it. The thing is, I had to earn money to do things like flying and scuba diving when I was a kid because our family didn’t just hand it over whenever I had a new thing I wanted to try, but was never really taught how to save, and that one is kind of biting me in the butt now. I am learning with them. Delayed gratification is a good, good thing.
Peace to all savers today!
Comment by Amber(Homeschool Diva) — January 7, 2009 @ 4:14 pm
So cool! Ruby LOVES saving in her piggy bank and every so often we will count the coins and make a deposit. It’s so fun! She gets so excited about saving that she wants to put coins in Brooke’s bank so she will have $ saved up when the time come for her to make deposits.
It’s sweet to see her share her coin loot with her baby sister. Saving and Generosity go hand in hand.
Comment by Kim — January 8, 2009 @ 10:47 am