Learning the Value of a Dollar

Like most 7 year old boys Genghis loves all things Lego. He loves checking the mail and every time the new Lego magazine comes it is like Christmas. He spends hours pouring over the pages. Reading every little thing and making new lists of the sets he just has to have.

Of course we are not made out of money and Lego’s are expensive. So in an effort to really teach him the value of a dollar we started giving him an allowance when he was 5. Every year he gets a raise that matches his age. So now at 7 years old, he gets $7 a week.

From day one we set up a system with 3 jars. 10% of his allowance goes into one jar for savings. 10% goes into a jar for tithes to the church and the remaining 80% goes into the 3rd jar and is his to do what he wants with.

He decided last month that he would be saving up to buy a couple of sets from the Lego Castle series.

Lego Castle

After not spending a penny for weeks and weeks the day finally came and we ordered the sets.

He spent a full day putting them together and has been playing nonstop with them. I am so very proud of that he saved his money to buy them all on his own.

And he has now decided that he wants the rest of the sets in the Castle series and is now saving up another $55 to buy them.

About Rachel

Rachel Akers writes about crafts, recipes, and features the adventures of a family of 4. It is always crazy but I wouldn't change it for the world! Comments or questions? Talk to me on Facebook or Twitter or sign up for our RSS feed to have future articles delivered to your feed reader.