Hubby and I have discussed giving our son an allowance in the past, but have never come to a full agreement over it. I think he's ready for it, hubby's unsure. How much do we give? How often? What does he do to earn money? They are all things we've discussed, but failed to reach a conclusion on.
Recently, I shared the book, Three Cups by Mark St. Germain, with my five year old. Based on a true story, Three Cups follows a little boy, the same age as my son, on his adventures with money. He learns the importance of saving, spending, and giving after receiving three cups on his birthday.The idea of separating money into three cups teaches children money management, responsibility, and compassion. But the concept is simple enough for even young children to grasp.
With the economic status of the country right now, I think it's important for my son to learn to handle money from an early age on. I want him to feel confident in his financial decisions, but to also realize there are many people out there who could use a helping hand.
After reading Three Cups, I asked my so if he liked the idea. He responded by asking "Do we have extra cups? How can I label them??"
Needless to say, he is excited by the idea of money and being able to have some of his own. I think the three cups technique is one that will work well in our house. After reading through the parent's guide in the back of the book, I'll most likely be digging into the kitchen cupboard this weekend, and clearing an area on his dresser so that we can start our own adventures with three cups.
Three Cups can be purchased for $10.
A copy of the book was provided for review. All opinions are our own.