Dave Jr.

Dave Ramsey's Steps to Financial Peace:

1. Save $1,000 fast

2. Pay off all debt except the house

3. Finish the Emergency Fund (4-6 months worth of expenses)

4. Maximize Retirement Investing (12-15% of income)

5. College Funds for the Kids

5b. Brainwash Your Chidren

6. Pay off the Home Mortgage

7. Build Wealth Like Crazy

Step 5b doesn't really exist but Mark and I thought it would be fun anyway. Since step 6 was going to take us awhile, we needed something to entertain us! For Christmas we bought the boys this:

It came with all this:

Mark and I sat down and listed out the chores we wanted the boys to be responsible for, as well as how much money they would be paid at the end of the week for doing those chores. We then put up their charts on the fridge and each night one of us will do the checklist with them. It is awesome! I am no longer picking up after them or cleaning their rooms! They are setting the table and clearing if off when we are done eating. They feed and water the dog and best of all, they have special shovels and pails to clean up her poop each week!

We sat down with the boys and explained that they would be receiving money for doing these 5 chores each week and if they didn't do the chores, they didn't get paid. We told them that they would have 3 envelopes to put their money in: 1 for spending, 1 for saving and 1 for giving. They were thrilled.

I took the boys on a field trip to Wal-Mart (don't tell Mark!) and they each chose something to save for. Then I took their picture and we put that up under the chore chart on the fridge.

Owen chose a Star Wars light saber and Caleb chose an army vehicle of some kind.

Then we started. The first couple of days we walked the boys through each chore and told them what we expected and what they needed to do to meet those expectations. Then we started to just remind them to do their chores. Now, they are doing them on their own and I'm telling you - my life is suddenly much easier!

Owen keeps telling everyone "If I don't do the work, I don't get paid!"

Here they are - doing the work.

And here they are - getting paid.

I am loving every minute of this and I can't think of a better way to start teaching our children about money - the responsiblities of it, the work ethic behind getting it and the fun there can be found in having it.

I love the fact that they have to save up their money for a special something.

I love going to church and seeing their pride in placing their "giving" money into the offering plate

I love how people are offering our children money to come do a chore at their house - mainly cleaning up dog poop, but hey - it's money, right?!

Loving it!