We have had an awesome start to 2020 @MoneyMatiX after successfully reaching our crowdfunding target we have been able to complete the first version of APP development and we are currently carrying out closed testing. As we go through our APP test phase, I am reflecting upon an interesting story that has stayed with me about a mom of 3 that creates household "jobs "and makes her kids apply for the roles to earn pocket money. I feel that this story is an embodiment of the core outcome of KuzaKash. Which is to help grown-ups role model important life lessons to their children. Making lessons about life fun, relevant and as realistic as possible is definitely the best way to land important life skills for our youngsters. It is certainly the most effective way to prepare children for financial fitness and give them a good understanding of earning and managing money to achieve financial goals. In the story, the mom created a hiring event where her kids had to apply for "jobs" around the house and then work for their pocket money, just like grown-ups. Take a moment to think about this, I believe it is the epitome of role modelling and with this action alone you can land at least 3 lessons in 1. Lesson 1:- That people apply for jobs and have to make a case and sometimes compete to demonstrate their skills and win a role. Lesson 2:- Presentation skills, you will not believe how much fun you will have getting your kids to go through the job interview process. My Kaylah and Kian love to negotiate and they have learnt to make a case for their desires by pitching. Their presentations are so hilarious. In fact, I strongly urge that you have your video recorder on hand as you are bound to make some great memories. Lesson 3:- That earning money involves work, you have to put in some sweat and add value in exchange for payment. I have compiled a list of 3 innovative chores to help kickstart your financial role modelling journey.
Chore ideas Teaching your children the true value of money. Now hiring … 1. Grammar Guru 2. Commander in Chief 3. Income Maximisation Manager
1. Grammar Guru: - I am writing a book at the moment and so I have a "job opening" for Kaylah whose job is going to be first proofreader. At the moment she is researching what editors earn and the work involved in proofreading. She will then be expected to present a PowerPoint proposal of what she intends to deliver, what her rate is going to be and why I should hire her. She will also include a work plan and timelines of when I should expect the job to be completed. (I will post her proposal to our KuzaKash Facebook page once she completes it. Please like and follow our page to see it when it's done. If you are writing or preparing presentations this would be a great chore so get them involved and pay a wage for it. You could also have older children helping younger siblings with homework, spelling or maths for a fee. Remember the fun is in making it as real life as possible. For the one they are helping their siblings with homework let them log a weekly progress report or similar.
2. Commander in Chief: - In this role, they will be responsible for organising all the household paperwork including letters, appointment slips, school mail, family calendar, weekly shopping list and co-ordinating rubbish bin days. If you are up for it, make it more fun and complex by requesting weekly/monthly reports and pack in some more education by getting them to report using PowerPoint or similar visualisation tools. In our home, the kids currently do this on a weekly rota but I can't keep up with the swap over and gosh does it cause arguments when we fall out of routine so for example if we have been away on holiday trying to track who was last Commander In Chief can cause a mini-war. So, I am toying with the idea of getting them to stick to their roles on a quarterly basis.
3. Income Maximisation Manager: - This Job is really about de-cluttering your home. Get the successful candidate to identify items around the home that you could do without. They have to create a re-distribution list and a disposal plan. The list will include a plan for selling, recycling and so forth of items that you do not need in the house. Books are usually a good place to start. Top priority is to try and sell the items so open an eBay and Gumtree account and supervise them as they list the items. Also, let them explore the possibilities of holding a garage sale or similar. I am confident these ideas will help spice up earning pocket money in your home. Please let me know what you think about these chores and share any other ideas you may have on fun tweaks to turning chores into role modelling opportunities. Remember to like and share this blog and sign up to join our free challenge for practical tips on becoming a financial role model for the people you care about.