Teaching the Value of the Dollar

We were in Target last week, and Micah spotted a toy he desperately wanted- a Hot Wheels bath toy. I saw it in his eyes- he was captivated at the thought of hours spent in the tub with his race cars.

chore chartSince he is 4 years old, he is definitely old enough to start learning and understanding the value of working hard to earn money. He really doesn’t ask for much, and unless it’s a birthday or Christmas, we don’t buy either of our children toys. They have plenty. I took a picture with my phone, and when we got home, I printed up this chart for him. It has a picture of what he wants with the price tag ($25), rows of boxes that say $1, and a list of daily chores that must be completed before he can color a box.

Not only does this get him to color (this kids does NOT like coloring or an arts and crafts), but it also helps him learn several lessons:

1. Toys are not free.
2. If you want something, you need to work for it.
3. There is value in working hard.
4. Hopefully, when he works hard for something he wants and buys it himself, he will take better care of it. We’ll see about this one.

I asked my older daughter what she wanted to work towards, and maybe we could make her a chart. She already does her chores every day without complaint and does not need an incentive to do them, but I thought shemight like doing extra chores if she wanted to work towards something specific. Her response: “Either a Disney cruise or a week at the Disney resort in Hawaii.” Umm…that will be a lot of chores.

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