Family Matters Newsletter - October 2007

“Money Doesn’t Grow on Trees”

Sheila Barry, Colorado State University Extension - El Paso County

“Money doesn’t grow on trees” is often said by parents who are trying to teach children about money.

Parents play a large role in developing a child’s attitude about money. It is never too late for parents to model responsible spending and savings habits for children to watch.

An allowance can be one of the best ways to teach children about money, if used effectively. Both parents or guardians should agree before beginning an allowance program.

Age Appropriate. An allowance is given to children to learn how to budget their money. It should not be tied to specific behaviors. Children should have age-appropriate chores that they are expected to do without pay. Children need to learn the value of contributing to the family without expecting payment.

Routine. Allowances should be given on a regular basis. This may be weekly for older children or semi-weekly for younger children. You can begin to give an allowance as soon as your child recognizes that money is needed to get things they want. Often this is apparent by the time the child reaches age 5 to 6.

Amount. The amount needs to be one that your family budget can afford. Pay your child in small coins or bills. This helps your child plan a budget to use the money.

Agreement. Parents and children should develop an allowance agreement. This may simply be a piece of paper divided into 4 squares. The first square is a place for your child to set goals for the allowance. Help your child draw or cut out a picture of this goal. Use the second square to write down the amount planned for saving each week. The third square is for the amount budgeted for spending, and the fourth square is to write down money that will be shared. Post the Agreement where the child can easily see it.

Allowance budgeting. Label three containers. Label one container with the word “Savings”, the second with “Sharing”, and the third with “Spending”.

Example: A child receiving $4.00 a week might budget to place $1.00 a week in the Savings container for his/her goal – an expensive new toy, perhaps. $1.00 a week could be placed in the Sharing container to contribute toward birthday gifts for friends, donations, or community sharing. The remaining money is placed in the jar for Spending. This money can be used when the child wants something.

Once an allowance routine is in place, give your child the freedom to make choices. Talk to your child about your family purchase values before giving the allowance. You may not always agree with your child’s choices. Discuss the positives and negatives of a purchase. If a child spends all of the savings ahead of time for a poorly made choice, do not replenish the savings. Allow the child to learn that savings takes time to build.

As your child becomes aware of the value of money, he/she will also become aware of needs and wants. Once the child’s choice is made and the money spent, there is increased ownership and pride in the object.

Allow your child to make mistakes. Learning to manage money takes time, effort and patience. The rewards last a lifetime.

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Safe Kids: The Right Helmet for the Right Activity

Wearing a helmet can reduce the risk of a serious head injury. It can even save a life. Helmets protect heads by absorbing the impact energy during a fall or collision.

Not all helmets are the same! There are different helmets for different activities. Helmets are made to protect the head from the impacts common to a particular activity or sport. Helmets that are certified to a safety standard are designed and tested to protect the user from serious head injury while wearing the helmet.

For example, all bicycle helmets manufactured after 1999 must meet the U.S. Consumer Product Safety Commission (CPSC) bicycle helmet standard. Helmets that meet a particular standard will contain a special label that indicates compliance.

A CPSC approved bicycle helmet can be worn while bicycling, recreational roller or in-line skating and riding a non-powered scooter.

Helmets should not be worn for some activities Make sure your child takes off the helmet before playing on playgrounds or climbing trees. The helmet’s chinstrap can catch on the equipment or tree. This might pose a risk of strangulation. The helmet itself may also create an entrapment hazard, causing the child’s head to be stuck between two surfaces.

For more information: “Which Helmet for Which Activity” visit: www.cpsc.gov/cpscpub/pubs/349.pdf.

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Healthy Kids

Eating well and being physically active are key to a child’s well being. Eating too much and exercising too little can cause a child to become overweight. Related health problems can follow children into their adult years. A diet based on healthy foods and a regular portion of physical activity can help children –

  • Grow
  • Learn
  • Have more energy
  • Maintain a healthy weight
  • Build strong bones and muscles
  • Avoid obesity-related diseases like type 2 diabetes
  • Get plenty of nutrients
  • Feel good about themselves

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Active Kids: Physical activity is learning

Keep the kids busy. At the same time, they can be learning “housekeeping”. It may seem that your child has a million toys scattered throughout the house. It is easy to get frustrated over the battle of who will pick up the toys — you or your child. Here are some ideas to try:

  • Make a game out of toy pickup time — “I see something that is a green square” — your child identifies the item and puts it away.
  • Have everyone in the family pick up five items at the end of the day and put each thing away.
  • Set a timer. How many toys can you and your child pick up before it rings?

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