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My kids don't get it.............

September 19th, 2006 at 10:55 am

OK I am trying to get my kids to save $. I have tried different aspects on saving. I made up our own "bank" here at home. I made their own checks (for the oldest 2 ages 10,6 the 3 yr old doen't understand yet). They are to put their $ into the bank and write deposit slips and if they want something I'll pay for it and when we get home they write me a check..and I'll take they out of "our bank". If they get $100 saved I'll give them a $10.00 interest bonus then deposit it into the real bank. However, they keep buying. I let them do this at first because I wanted them to see what happens when you spend all your $ on junk and have nothing....they didn't care! They do not get allowances....Should I? My feelings are why give them $..they are going to spend it. Aghghg..
I want them to learn how to save. This is something my parents NEVER taught me. That is why I have a hard time now. I want them to understand how important it is.
Looking to other ideas..or should I stick with this one?