$10 to more responsible kids

My step-kids are ages 15, 13, and 11. This means 3 things for our household:

1. There are hormones flying around like crazy

2. There are lots of people that THINK they know EVERYTHING

3. We have "NO FOOD!"

At the start of the new year my husband and I resolved to building up our savings, however, the kids were literally eating us out of house and home. I was talking about this at work one day and someone asked me, "why don't you charge them?" At first I laughed, then I started thinking... It seemed a little harsh to charge them (even for a step-parent) especially since none of them have steady jobs. We expect the kids to do chores and help out around the house and have never paid them for it, but that was now becoming part of the plan (muahahaha).

Here's how it works:

photo credit biz setup.wordpress.com

1. They each have the potential of earning $10 a week for doing chores

2. If the chores are not done to our standards (in other words correctly) there will be $1 deducted from the $10 pot for each thing not done, or not done correctly (plus they have to do it again).

3. On Sunday they will receive the chore $$ payout.

4. That $$ must, and can ONLY, be used to buy snack food

5. They can buy whatever snacks they want but it must be within their $10 budget

6. If they get caught eating someone else's snack without permission they must pay that person $1 from their own snack money the following week.

7. The only food they are allowed to snack on ALL week is what they were able to buy with their snack money 

When I first presented this idea to the family (including the hubs) it did not go over so well. My husband and I talked about it breifly before we took it to the kids and we'll say he was more than hesitant. I begged him to trust me and pretend he fully supported the idea in front of the kids. If it was a disaster after the first week, we would consider other options. However, it worked amazingly even with our oldest, most opinionated, kid that knows everything (insert eye roll here). 

Here is what they have learned:

1. Food actually does cost money (aka the value of a dollar)

2. Different foods can keep you fuller longer

3. Trading and sharing can be awesome

4. They can make money off each other (this was a surprise, even to us)

5. How to budget $$

6. Just because you're hungry doesn't mean you HAVE to eat!

7. Generic doesn't mean gross 

8. It pays to do things right the first time

9. How to comparison shop

10. How to make tough decisions

This helps us out by putting a cap on how much were spending on snack food and also ensures that the groceries I buy with a purpose (all of them) stay in the cupboard until I need them. We have been doing this for several weeks now and the kids are still loving it. If you try this or something similar leave me a comment with any other ideas you have (or if you just want to tell me how genius this idea is).