Comments on: Alberty: New ways to teach children about fiscal responsibility http://www.albertyfinancial.com/athens-banner-herald-column/alberty-new-ways-to-teach-children-about-fiscal-responsibility/ Mon, 21 Sep 2009 18:53:02 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: Danny Kofke http://www.albertyfinancial.com/athens-banner-herald-column/alberty-new-ways-to-teach-children-about-fiscal-responsibility/comment-page-1/#comment-1197 Danny Kofke Mon, 21 Sep 2009 18:53:02 +0000 http://www.albertyfinancial.com/?p=1522#comment-1197 Hi Ms. Alberty, I hope this note finds you well. I just read your article in today's Athens Banner Herald and thought I would share what I do to teach my daughter financial responsibility. My name is Danny Kofke and I am a special education teacher and author up the road from you in Jackson County. My wife is a stay-at-home mom to my two young daughters - Ava, age 5 and Ella, 2. We don't make a large salary so we have to be frugal with our money. We are trying to pass on our values to our children. I have a way that I teach Ava about money. Ava gets an allowance every week for chores she does. We check each chore off on a daily basis and at the end of the week Ava gets paid for doing these chores. Ava has three jars - 1 labeled SAVINGS, 1 GIVE AWAY and the other SPENDING. Upon getting paid, Ava first puts some of the money in the GIVE AWAY container, then SAVINGS and finally SPENDING (she knows the correct order). I feel that by doing this she will continue this practice later in life. If Ava sees something at the store that she wants (now that she is 5 this seems to happen more and more) Tracy and I tell her we have to go home and look in her SPENDING jar to see if she enough to buy it. We use her SAVINGS jar to save up for items that might cost a little more money. Ava has used the money in her GIVE AWAY jar to buy a present for a student at my school who lost her father and for a canned food drive at our church. A few months ago she said something that made me so happy. After putting money into each container she said that she had enough money in her SPENDING and SAVINGS containers and wanted to get more in her GIVE AWAY so she could buy a ball for her 2 year-old sister, Ella. I was so proud of her. She is now of the age that she has started to notice that some of her friends have more materialistic things than she does. We explain as best we can to her why this is so but it definitely made me feel good to hear her say that she wanted more money to give something away rather than buy for herself. I was actually just featured on Fox Atlanta's morning show Good Day Xtra discussing this very topic. Here is the link (I am on about 50 seconds into the video): http://www.myfoxatlanta.com/dpp/news/Teaching_Kids_Money_Sense_091509 I thought you might enjoy Ms. Alberty. Thanks so much and have a great evening! Sincerely, Danny Kofke How To Survive (and perhaps thrive) On A Teacher's Salary www.dannykofke.blogspot.com Kofketd@windstream.net 706-824-0286 http://www.tatepublishing.com/bookstore/search.php?search=kofke Hi Ms. Alberty,

I hope this note finds you well. I just read your article in today’s Athens Banner Herald and thought I would share what I do to teach my daughter financial responsibility.

My name is Danny Kofke and I am a special education teacher and author up the road from you in Jackson County. My wife is a stay-at-home mom to my two young daughters – Ava, age 5 and Ella, 2. We don’t make a large salary so we have to be frugal with our money. We are trying to pass on our values to our children.

I have a way that I teach Ava about money. Ava gets an allowance every week for chores she does. We check each chore off on a daily basis and at the end of the week Ava gets paid for doing these chores. Ava has three jars – 1 labeled SAVINGS, 1 GIVE AWAY and the other SPENDING. Upon getting paid, Ava first puts some of the money in the GIVE AWAY container, then SAVINGS and finally SPENDING (she knows the correct order). I feel that by doing this she will continue this practice later in life.

If Ava sees something at the store that she wants (now that she is 5 this seems to happen more and more) Tracy and I tell her we have to go home and look in her SPENDING jar to see if she enough to buy it. We use her SAVINGS jar to save up for items that might cost a little more money. Ava has used the money in her GIVE AWAY jar to buy a present for a student at my school who lost her father and for a canned food drive at our church.

A few months ago she said something that made me so happy. After putting money into each container she said that she had enough money in her SPENDING and SAVINGS containers and wanted to get more in her GIVE AWAY so she could buy a ball for her 2 year-old sister, Ella. I was so proud of her. She is now of the age that she has started to notice that some of her friends have more materialistic things than she does. We explain as best we can to her why this is so but it definitely made me feel good to hear her say that she wanted more money to give something away rather than buy for herself.

I was actually just featured on Fox Atlanta’s morning show Good Day Xtra discussing this very topic. Here is the link (I am on about 50 seconds into the video):

http://www.myfoxatlanta.com/dpp/news/Teaching_Kids_Money_Sense_091509

I thought you might enjoy Ms. Alberty. Thanks so much and have a great evening!

Sincerely,
Danny Kofke
How To Survive (and perhaps thrive) On A Teacher’s Salary
http://www.dannykofke.blogspot.com
Kofketd@windstream.net
706-824-0286
http://www.tatepublishing.com/bookstore/search.php?search=kofke

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