Are you spenders or savers?
We are striving to be savers much more now with the state of economy. We are very big on saving money and generating money for our future endeavors and instilling that in our children as well. We have already set up college accounts for the kids.
OUT WITH THE OLD AND IN WITH THE NEW, and when we are getting rid of the old we like to generate cash from it if at all possible. We will go through the house and get rid of extra toys, clothing we will no longer wear, furniture – any item that is causing clutter and we no longer use and turn it into positive cash flow.
However, we do work hard and enjoy nice things and treating the family every once and a while. As a couple we discuss these expenses to decide if it is better to splurge or to save on a case by case basis.
Who controls the money?
Matt creates the primary source of funding and therefore pays the bills, I make the contribution I can each month and he always keeps me in the loop.
How much allowance do the children receive per week? Do they have to earn their allowance?
We do not give an "allowance" in this house because we don't believe in paying the kids for chores.
If the kids want to earn extra money we will assign them additional tasks and negotiate a price that they can earn. We encourage them to think big and come up with their own ideas of generating cash.
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