Money for kids

My kids all get some pocket money. The older two are expected to buy some of their own clothes and gifts they want to give themselves. The younger two get a lot less. The have it reduced for disobedience and rudeness.

This year we wanted to teach them to keep track of it and to manage it better. For three of them I've just bought them these money boxes from Kikki K - much reduced after Christmas. (The oldest uses a bank account more then the others.)

The thing that I like about these boxes is that they have three different sections - save, give and spend. 

The kids are being encouraged to put a set amount, such as 10%, into the give section each time they get given any money. This is to be used for charity, not for gifts. At either the end of six months or towards the end of the year we'll get a World Vision gift catalogue (or use the website) and they can each chose something - like hens, or school stationery, etc - for someone in need.

They are also being encouraged to think of something to save for, including gifts for family/friends and to work out how much to set aside for that. They can give me this money to put in the bank when there is a bit there.

They also each have a little book to write down anything they spend, and I'll check that book every now and then.  We are actually using a different book to the one that came with the boxes for that, as it didn't quite cover what we wanted.