Stick-to-it Money Management System
Whether your child is a toddler or a teenager, help them on the road to success with the Stick-to-it Money Management System. This financial kit comes in a green (of course) tear-resistant/waterproof letter size envelope with a stick-to-it closure. A clear pocket on one side allows your child to easily access his or her ledger pages where earnings are recorded. Whenever your child earns money, pull out the current ledger page, write in the date, source of earnings, amount earned and the amounts allocated to give, save and spend. Each color-coded ledger page has 30 entries with subtotals and a grand total so children can add up exactly how much they’ve earned, given, saved and spent. Use the included scratch pad and pencil to do the figuring. Included in the kit are four color-coded money storage bags – Earn, Give, Save, Spend.
Earn - Use this bag to store money earned that has not yet been divided. For example, your child earns lawn mowing money. It’s a hectic day and he doesn’t have time to divide it right then. Write down the earnings on the ledger under Amount earned and leave the Donation and Savings columns blank. Store the money in the earn bag until a more convenient time. When money is divided, notate it on the ledger.
Give – Choose a percentage of your child’s earnings to give to your church, a non-profit organization or charity. Everything we have has been given to us, so it’s important to give back. This teaches our children to share rather than be greedy. Young children, especially, are eager to share so when you start them out young with this principle, it’s easier and it “sticks”. Keep the money to give in this bag until enough is accumulated to turn in the donations. For us, it’s tedious to turn in a dollar here, a dollar there. Use this as a holding bag as appropriate for your family.
Save – Designate a percentage of your child’s earnings to save and keep that money in the Save bag. The Stick-to-it Money Management System then acts as a temporary savings account. When a large enough sum is accumulated in the savings bag, transfer it to a bank account or whatever system you desire. Some of the most important principles of proper money management are tracking the money you earn, learning to save, and spending less than you earn. The Stick-to-it Money Management System trains children to designate a portion of their earnings to savings, thus spending less than they earn. Not only will your child learn to save, but think of the savings account they’ll accumulate ON THEIR OWN by the time they leave home! Now that’s satisfaction!!
Spend – Earning money is no fun if you can’t spend any. Learning to spend money wisely is one of those essential skills that children can practice from a young age. After earning, giving and saving, you may choose to put spending money in the Spend bag (especially if the child is young and may quickly lose it) or store it wherever they like to keep it: a piggy bank, electronic money jar, wallet, purse, etc).
A second set of ledgers is also included to track personal spending. 5 blank categories allow for customization to your child's needs. Tracking how your child spends money is a necessary step in the money management process and is easily done with the Stick-to-it Money Management System.
The Stick-to-it Money Management System Includes:
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Letter Size Green Poly- Envelope with label for name customization
•12 Money Ledgers (Enough for at least one year)
•12 Personal Spending Ledgers (Enough for at least one year)
•1 3x5 scratch pad
•1 pencil
•4 heavy-duty re-sealable bags with labels for money storage
•Adhesive Hook & Loop for Stick-to-it Closure
•Earn, Give, Save, Spend – Successessful Money Management for Today’s
Youth - An instruction booklet with ideas, tips and suggestions for the parent and child.
With the debt load of today’s young adults and bankruptcies at record numbers, it is absolutely VITAL that we teach our children proper money management skills and prepare them for financial success. From the time your child knows what a dollar is, they can (with the help of Mom or Dad) record their money earned, give, save and spend. As children perfect their math skills and understand coin values and counting techniques, they will be even more prepared to record and manage their earnings.
