The boys have been invited to participate in a month-long saving project which has been designed by Family Investments. We received the following free items:- an A3 size wipe-clean monthly savings planner, a piggy bank, some pens and star stickers. I then printed an extra copy of the planner, so that there was one each for son1 and son2.
I was brought up knowing the importance of saving for the future. My mum always used to tell me to look after the pennies and that the pounds would look after themselves. In school holidays I used to help my mum at the market and one of the jobs I liked the best was counting the money up at the end of the morning ready for my mum to take it to the bank. And next to my own money box on the mantelpiece at home, I also had a church money box to save for JMA.
So I want my boys to learn the importance of saving and the value of money. They haven’t previously had pocket money, as we usually buy all little treats for them. We have decided to give them £2 each week for the duration of the project, plus the chance to earn up to an additional £3 per week for helping out with jobs. We discussed together how they can spend some of this money on their favourite little treats, like Match Attax cards and meanwhile also save up for something bigger. At the end of the project we will review whether to continue with this approach or to revert to buying treats on their behalf.
Son1 has decided that he would like to save towards a new WiiU game and son2 wants to save for a Chelsea football strip. We have suggested to them that if they don’t have enough money at the end of the month, that they can put their Christmas money towards these items.
Here’s a short viedo clip after they reached a truce regarding sharing the piggy bank.
They have both received their initial £2 and filled out their targets on the Savings Planners. I will post a weekly update on how they are progressing towards their saving targets.
Disclosure – this post is an entry to Family Investments blogger competition. We received some free products in order to participate.