Art & Entertainment | Book Reviews | Education | Entertainment Video | Health | Lifestyle | Sport | Sport Video | Search

 


Oily Rag - Kid’s money

Oily Rag - Kid’s money


By Frank and Muriel Newman

Its school holidays and a time to give young ones even more attention than they already receive. An excellent letter has prompted us to think about kid’s money.

Stephanie writes, “Let kids save for their own college fund by encouraging them from a very early age to earn money by getting paid for what they enjoy doing! Our little boy who is now three loves dogs, so we offered to walk the neighbours’ dog for $5 a week. It makes us get out for exercise and gives the dog half an hour of much needed attention while their owner is at work. I know it doesn't sound like much but each year he earns himself $260 for his college fund so I'm calculating by the time he is 18 he will have well over $4,000 towards his college education - just from this hobby alone. Similarly our daughter enjoys baking so every week we invite her friends over to a baking session making simple things like scones, biscuits, raisin buns etc. They are learning something new and having fun. The mums are more than happy to contribute $5-$10 for the ingredients and the pleasure of not having to mess up their own house. We put half in the kitty for the ingredients and half goes to my daughter’s college fund so she can save between $10 and $20 each week. If we are able to do something like this every week until she is 18 she would have over $8,000!”

Well done Stephanie for showing fantastic initiative and instilling the virtues of saving into her young ones.

For young kids, “work” usually comes in the form of “chores” around the home: looking after family members (babysitting), cleaning their bedroom (isn’t it amazing how quickly they become messy again!), vacuum cleaning, dusting, watering the plants, setting the table, cooking a favourite dish (fudge!), washing the car, mowing the lawns, feeding pets and chickens, doing the laundry, cleaning the dishes, and taking out the rubbish (kids will be pleased to know that chimney sweeping is no longer a common chore!). For those a little older, the chores can extend to neighbours and home-help for the elderly. There are lots of retired folk who would welcome a helping hand, a bright smile and a little chat. Services may include keeping the garden and lawns tidy, washing windows, grocery shopping, and being on call to run errands in times of emergencies - like running out of milk!

If you are paying pocket money, call it a “wage” for the good deeds they do, helping out around the house and contributing to a happy oily-rag home life.

When shopping, give young ones the responsible job of checking prices and making sure you have bought the best value. A calculator will be essential so they can compare different packet sizes. In the meat section a tip is to focus on the price per kilo. Not only will they take part in a valuable shopping lesson, but their maths will also improve!

Extend their responsibilities to include having the young ones scout about for the best prices for items on your shopping list and pantry staples. And when you get home, ask them to check the till tape, letting them keep the savings should you be overcharged.

We firmly believe in teaching kids the value of work - and saving is critical to financial security later in life. We believe money is a virtue that can provide freedom and independence.

Let us know if you have great money making schemes for kids so we can share them with others.

Don’t forget to send your tips by visiting www.oilyrag.co.nz or by writing to Living Off the Smell of an Oily Rag, PO Box 984, Whangarei.


ends

© Scoop Media

 
 
 
 
 
Culture Headlines | Health Headlines | Education Headlines

 

Scoop Review Of Books: No Longer An Island

Simon Nathan reviews 'Zealandia: Our Continent Revealed': The idea that New Zealand is part of a large submerged continent is not new... There was renewed interest in the extent of offshore New Zealand from the 1970s onwards with the start of offshore drilling for oil and gas, and this was given impetus by a UN agreement which allowed countries to claim an Extended Continental Shelf (ECS). More>>

Art: Simon Denny Recreates Kim Dotcom’s Personal Effects

Who owns what? How has the internet changed our relation to the world? These are two of the many questions Simon Denny raises in the latest exhibition at the Adam Art Gallery, opening on Saturday 4 October. More>>

Theatre: The F Word: Sex Without The 'ism'

Sex without the 'ism' Okay, so the sexes are equal in the eyes of the law. What the F happens now? More>>

Scoop Review Of Books: Don’t Eat The Fish

On 'The Catch' by Michael Field What the ecologically edible lists don’t appear to take into account – and they should – is slavery... It’s not an easy read, but it’s definitely near the top of my listicle of “5 Political Books You Must Read This Year”. More>>

ALSO:

Caracals: Small Cats With Big Ears Arrive At Wellington Zoo

Visitors to Wellington Zoo will be able to see New Zealand’s first Caracals in the Zoo’s new Grassland Cats habitat, with a special visitor opening day on Saturday 27 September. More>>

ALSO:

Gordon Campbell: Classics - Tales From Moominvalley
Can’t speak for the reading end of it but the Moomins ( or maybe the story about Margaret Wise Brown) were the most enjoyable subject to think about and write about during these whole first 50 issues of Werewolf. For that reason – and because the Moomins always reward re-reading – I’ve decided to reprint it. The only added element is a link to an interesting hour long documentary about Tove Jansson. More>>

ALSO:

Repping In The Pacific: All Blacks And Manu Samoa To Play Historic Apia Test

The All Blacks will play Manu Samoa in Apia on Wednesday 8 July next year as part of both teams’ preparations for Rugby World Cup 2015. More>>

ALSO:

Get More From Scoop

 
 

LATEST HEADLINES

 
 
 
 
Culture
Search Scoop  
 
 
Powered by Vodafone
NZ independent news