Earn It, Learn It: Teaching Kids the Value of Money & Work

Allowance and ChoresMomTini first – loved the title of this book so much, couldn’t think of a better post headline! I had the pleasure of meeting a new Mompreneur friend, Alisa Weinstein, whose new book is a great new twist on allowance. Weinstein, founder of Earn My Keep, LLC, published, Earn It, Learn It: Teach Your Child the Value of Money, Work, and Time Well Spent.

April is Financial Literacy Month, so what a great time to check out this new way of looking at allowance. Basically, Alisa talked to 49 professionals about their careers, and outlined them in her book in very kid-friendly “jobs.” She explains how parents can teach their kids about each “career” through hands-on projects, many contributing to running a household, but many just great learning experiences for young kids. Through this “work,” the kids earn their allowance ($1 per grade of school, i.e.).

So, the job of investigator shows you how to make fingerprints; a dietician plans nutritious meals; a musician can keep a journal listing places he/she hears music but never realized it before. There are some great community service jobs, such as helping Habitat for Humanity (job = contractor).

A key benefit, she said, is that by giving your kids actual currency – dollars and coins – you’re providing “tangible moments” since money today is so electronic (ATM, etc.). It’s good to let them actually HOLD money,” she suggests. Timing and consistency are key, and, Alisa explains, “It redefines the way you feel about money by making you feel good about what you do.”

The program provides 2 weeks’ paid vacation, a bonus for a job well done, like real life, and Alisa said there are ways to work the jobs into your routine. For example, there’s a job for “set designer” which would be great for Halloween.

Side note, but an adorable story, and explains how this venture started for Alisa. She shares on her site, “It all started in the make-up aisle…My mornings barely afforded me enough minutes to use a toothbrush, let alone a mascara wand. But my (at the time) four-year-old was (and still is) captivated by anything pink and sparkly and thus I found the two of us staring at Target’s fabulous array of Lip Smackers lip balm products. She wanted a new one. I later told her (only half-jokingly) to get a job. And thus, Earn My Keep was born.

Love it! And surely moms can relate to the “gimme this…gimme that” syndrome….

Check out Alisa’s book on our Mom-Tastic bookshelf

3 Comments

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3 Comments to Earn It, Learn It: Teaching Kids the Value of Money & Work

  1. by Kim Handelman

    On April 8, 2011 at 1:24 pm

    Hey Amy, I’m going on Amazon right now to order this. This is a hot button for me as I was raised that “Girls grew up and were taken care of by their husbands.” So NO money skills here and it nearly destroyed me until I got my act together in my 30s. My girls are going to grow up prepared and this sounds like a perfect place to start! Thanks, -k-

  2. by Amy Smith

    On April 8, 2011 at 1:28 pm

    Thanks, Kim! You can click the link right from the post to see the book on Amazon! The book is FABULOUS, and absolutely perfect for your aged girls! Thanks for your enthusiasm! A

  3. You are so interesting! I do not suppose I have read a single thing like
    this before. So great to discover another person with original thoughts on this topic.
    Seriously.. thank you for starting this up.
    This site is something that’s needed on the internet, someone with a bit of originality!

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