Money Matters

Today was much occupied with matters of money.

It began when Kiki decided that she needed more money to fund her new found knitting hobby. She decided that she wanted money for yarn far more than she wanted her collection of Polly Pockets. So she began spinning possibilities for selling the collection. We discussed the advantages and disadvantages of ebay, garage sales, and consignment stores. I was worried that she would regret the sale and miss her toys. I mean it was only a couple of months ago that she was avidly saving to buy Polly Pocket sets. I’m not sure who the inspiration struck, but Kiki decided to hold a store for her siblings. She would put prices on the items she wanted to sell and her siblings could bring their allowance and come shopping. I decided to allow this economic exchange provided I was able to supervise all the pricing and sales.

Link, Gleek, and Patches loved shopping in Kiki’s store. Gleek who had left over birthday money acquired all of the Polly Pocket collection for a price of $6. Link acquired some little magic tricks. Patches purchased a bouncy ball. Everyone came away happy. There may be regrets later, but that too will be a learning experience.

I’ve been trying to pay more attention to my children’s economic education. Primarily this means that I am paying out allowances regularly once a week instead of allowing a large pile to accrue before paying up. This means that if they want to fritter thier money away on little stuff they can. If they want to save up for something big it is them saving the money not me. I’ve also instituted a rule that they can only buy something if they have their money with them. I will not loan them money. I’ve tried to be dilligent about making sure the kids bring their money to stores so they can decide whether or not to spend. Then I make them do the paying so that they learn how to make change and handle reciepts. Patches in particular feels very empowered by this. He brings his jar of money to the grocery store and very seriously buys himself a treat in the check out line. I no longer have to say “No we’re not buying that” I just say “spend your own money.”

After the Kiki’s store ran out of merchandise I had to run over to Chalain’s house to help him sort out his business accounts. He’s decided to hire me as a book keeper, so today I got started. It is so satisfying to take a huge pile of paper stress and turn it into neatly organized accounts and thin files of necessary papers. It also feels really good to set up a system that will keep the pile o’ stress from reaccumulating. Just like with Kiki’s store, everyone came away happy.

It’s been a good day.