The money chart has been part of the childrens lives before there were six. I can remember when my fifth child asked if she can be placed on the money chart because she had earned
a dollar and needed it to be recorded.
The Money Chart is a chart that is made of 8 1/2 X 11 inch plain white copy paper. There
is each child name (or in our case for space purposes, the first letter of their name) across
the top and lines vertically down seperating the names into columns.
The Money Chart is used to earn ANY money in the house.
The Money Chart is used for money that comes into the house like in a
aunts Birthday card or gift card.
The Money Chart is used to record allowances for jobs, ANY money at all that
belongs to the child is recorded on the money chart.
NOW the same works for money being deducted from the Money Chart.
If the older children want to purchase a song on itunes, they have to deduct
the $1.00 from the money chart.
If someone is crying for something that you dont want to purchase for them they
know that they have the power to use their own money on the money chart to buy it.
This has become an amazing motivator in our house for people to earn money for their
money charts towards understanding not only their independance, but their ability to
control many of their situations.
We have a strong rule put into place that the MONEY CHART does not allow the children
to change the foundations which we have in place.
We are at the checkout counter at the deli and your child wants to purchase something
they see under the register. You are not purchasing it for them as you dont feel you need to buy something every time they see it, you dont have enough money to waste for this item, you dont feel they should have this junk, whatever the reason may be......they want to use their MONEY CHART points to get it.
Well in these cases you have to apply the same RULES and FOUNDATIONS of your family and house with the understanding also that it is VERY empowering for your children to use their MONEY CHART points when they can. I repeat when they can. Most children do not have many opportunities to purchase things so it is natural for them to want to use their money chart points whenever they can. I always try to devert their need to buy junk by offering them other
How we do that is spend time discussing something we are saving for, planning on. I am very proud of my third son who saved up money for almost a year to purchase a gold coin, a very small gold coin, a very very small one. But let me add there isnt a day when he comes home from school and doesnt find out what the price of gold is !!!
The money chart allows the children to create agreements with eachother. If they want to
make a fair trade, or have a service provided from another sibling, they need to write up
agreements which each child has to sign and either MOMMY or DADDY sign. The agreements
that they write up are simple and hung up under the money chart. When the trade is completed
after about a week we take down the agreement file it to refer to it in case a SITATUON comes up!
The money charts are also used to create responsibility and accountability. If something
get broken in the house that could have been avoided, their mony chart points are deducted to replace this item .
Another added bonus feature is we talk about money in POINTS and thats really nice
to me !
Good Luck with your POINT CHARTS !