Appropriate age group(s):
8+

Description of technique for teaching kids the value of money:
I just started an at home program with my 8-1/2 year old son where I made a chart of all of his daily activities. From making his bed in the morning, to homework & chores, to preparing for the next day and brushing his teeth at night. I gave each activity a value of $0.05 to $0.10. The rule is that he has to do the activities as listed in a timely manner and without complaining about it. Today he earned $1.25. At the end of the week, we will add up all daily subtotals for what will be his allowance for the week. This also helps him with his math skills. I have also decided that we will divide his allowance into thirds. 1/3 he will save. Another 1/3 will be his to do with as he pleases. The last 1/3 he can put to good use, such as donating it to church, or a charity...so that he learns to share and 'give back'.