Sunday, February 7, 2010

Cavett's Commission Calculator

We are in the midst of taking Dave Ramsey' Financial Peace University class.  So far it has been good and reinforced what we know and have been doing as well as should have been doing all along.  But, it also told us we need to make a decision about how we are going to approach money and chores with our kids.  I had tried a more rigid strategy with Cavett last year, but didn't stick with it.  So, now we have decided to adopt Ramsey's philosophy.  Cavett now has a chart with 4 jobs.  Some of them must be done every now and then and some are a required a minimum amount of times per week.  He is receiving 10 cents per stamp/job completed.  What was utterly amazing to me this week was that making his bed is a new thing.  We have never required this of him, but he did it every day this week without being told or reminded.  Is this kid awesome or what? 
We are also trying to teach him about spending, sharing and saving.  He now has three containers--one for each category and we are letting him decide how much to put where, with a bit of suggestion.  At first of his $1.40, he was going to save 20, spend 70 and share 50.  We suggested that he up the savings by ten and that would be perfect.  Happily, he put his money in the jars and he's ready for the next trip to the store.  Let's just hope we can keep up with this idea and it is a lesson that sticks for a lifetime. 

1 comment:

Allison said...

This is definitely something I need to start with Max!