My Denver Post column today talks about teaching kids to be money-smart and the Tooth Fairy’s criminal record. And yep, the two go hand-in-hand.
One of my 2013 resolutions is to do a better job teaching my kids to be fiscally responsible. Last year, I successfully introduced a chore chart but failed to implement a sound savings plan.
In parenting circles, whether or not to tie chores to an allowance is a controversial topic. I ultimately decided what worked best for us was to keep them independent. However, I still wanted to teach my kids how to work to earn money so I offered additional tasks with a monetary reward.
Example: Giving Mommy a backrub is worth $2 (and its weight in gold).
Then, there’s “free money” where the kids don’t need to do anything. There is no more beloved bestower of gratuitous dough than the Tooth Fairy and my first-grade son is on the cusp of a toothless windfall.
But free money comes at a cost and that is usually my sanity.
Read more: Johnson: How much is a tooth worth? Fiscal lessons from the tooth fairy – The Denver Post http://www.denverpost.com/smart/ci_22312923/how-much-is-tooth-worth-fiscal-lessons-from#ixzz2HJ3S3KN5
I'm a Canadian-born mom of two, former Denver Post columnist, family travel writer, editor of MileHighMamas.com and 9News contributor. Expert on all things Utah, Denver, family and travel. Lover of laughter and life. Happily married to a man obsessed with growing The Great Pumpkin. 