A while back I gave my kids the option to get part (or all) of their allowance for doing chores in silver. I thought it would be a good, real-world way to teach them the value of savings and a way to save that is not just putting it in the bank.
Two of the kids took me up on it at the time, the boy (son) and 12 (daughter) and I thought I would give a little update over a year later. 12 stared out great, earning a half-ounce of silver for a couple of months in a row, then she lost them both and gave up on taking silver as a means of payment. :/
I had actually forgotten about these but she just found them yesterday!! I am glad she did too because she is not good at saving money. If she gets $20 from her grandparents for her birthday you can bet it will be spent within 48 hours of receiving it. She is actually a very generous person and will do something like walk to the convenience store with her friends and buy stuff for everyone. I'm pretty sure they just fill the counter and ask the cashier to tell them when they reach $20 worth of stuff.
The boy, on the other hand, saves everything he gets, he then uses it for a big purchase like a new computer monitor or a $100 mic for his computer. He is in high school now so not doing as many chores as when he was homeschooled but he still has the silver he earned and he let me take a picture of it for this post.
Yep, he built a stand out of LEGOS for his treasure! 5.5 ounces of silver is just great and the fact that he has not spent any of it (by selling it to me at market value) warms my heart. He gets it and that is a comforting feeling as a parent.
Posted via Steemleo