I am so proud of my son! He has saved all the money he needed to make his first BIG purchase. Back in November he made a goal to save his money for buying a robot. He has been very diligent in setting aside the cash for his robot. He used his commision (aka allowance) to make it happen. He has the potential of earning $5 a week by completing his work (aka chores) sometimes he earned all $5 other weeks less. He is required to give the first $1 back to God (tithe) then can choose what to do with the remainder. He usually takes one dollar out for spending at Wal-Mart (candy or small toy) Then sets the rest aside in his save envelope which we have been calling his robot money. Today he received $5 ( I was late on last weeks payment) and after he tithed he had $4 to determine what to do with it. With $32 in the envelope he put all $4 towards the robot. A big choice seeings that we are going to Wal-Mart today. So we called daddy and asked if he could take the rest out of his piggy bank. Which we decided was a-ok. So YIPPEE, he did it! Even greater, he did it all by himself!
It will be fun to see what his next goal will be. Aunt Mindy I know you are proud. So are we!
Additional Note: For more financial information check out daveramsey.com. We used the Financial Peace JR. program for teaching DS about money.
8 comments:
That is outstanding! I knew he could do it. With all the stuff he is learning, he will never have to know what it's like to be in slavery to debt and he will have financial freedom his entire life! How cool is that?
That is our hope!
And it is so cool!
Great Job! Is that the robot he ordered? It looks very cool! I remember saving up all my money to buy the My Little Pony Mansion. That was a very special family outing to Toys R Us to get it.
It is the robot who's picture has been on our fridge for the last couple months. We ordered it today!
Someone on the FPU Coordinators Forum asked about FPU Jr., so I told them this story. Here's one response I received:
"And think how much more this child will APPRECIATE this toy, and how much better care he will take with it, after all of the hard work that went into EARNING it! A great story, thanks for sharing! A four year old - wow - my 15 year old still struggles with saving up for things!!"
DS said...
Raychel- It is breakable, but sure I will let you play with it.
WAY TO GO!!!
I am VERY proud of you !!
PS - can I come over and play with your robot if I promise not to break it ??? (wink wink)
I am sooo proud of you!! Dan and I started the envelope system this month (thanks to the encouragement and support of Mindy;) and it is not as easy as it sounds...so I am very impressed that you were able to save your money, tithe and have spending money.
Koodo's to you Sarah for instilling such an important value into your children. I bet it is a lesson he will take with him throughout his life!!!
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