When my kids were young, I was desperate to put a stop to the endless “I want this, I want that” drama that ensued every time we set foot in a store. What’s more, when birthdays and holidays approached, I cringed at the thought of buying them yet another toy that was likely to get little use, no matter how badly they claimed to want it. I came up with an idea that I hoped would curb these problems and help my kids gain some experience making financial decisions. Thankfully, it worked. We called it “monthly money” — yes, very creative ;) — and it quickly became the go-to gift for my kids (in our case, for Christmas).
The idea is very simple. Monthly money consists of twelve certificates for a fixed amount of money (one for each month, thus the name), plus other add-ons like a bonus ticket designed to teach the value of saving/delaying gratification and a charity ticket to encourage giving. It’s easy to implement and can be customized to fit any family’s needs.
Learn more and download sample certificates here: