We got the Financial Peace Jr kits for our kids for Christmas. My kids are 9 and 6. It has been working great for them. They love getting money to put in their envelopes and I am amazed at how much they are saving. The envelopes are really nice, they are high quality and easy to use. I also really like the chore chart. It has a place where you can put deductions too. We started taking money away for fighting with your brother, getting in trouble at school (usually for excessive talking!) and not listening. It has worked really well!
We also taught them a really important debt lesson early on. We went to a basketball game and they each wanted to buy a souvenir. We told them we would loan them the money from their allowance but they wouldn't get anything the next 2 weeks. Of course they were fine with that in the heat of the moment. Once it came time to get their money, we handed it all out, then demanded it back. We saw those kids go into gazelle mode right then! They ran around the house looking for coins, grabbing old piggy banks that had a bit of money in them, etc. They got their loans paid off that day and have never asked for an advance again.
I do think that it is geared towards younger kids, especially if you buy the Jr. books. Those I would not have bought, but they were on sale. And actually my kids use them as bases for their lego creations, so I guess they are getting used
We also taught them a really important debt lesson early on. We went to a basketball game and they each wanted to buy a souvenir. We told them we would loan them the money from their allowance but they wouldn't get anything the next 2 weeks. Of course they were fine with that in the heat of the moment. Once it came time to get their money, we handed it all out, then demanded it back. We saw those kids go into gazelle mode right then! They ran around the house looking for coins, grabbing old piggy banks that had a bit of money in them, etc. They got their loans paid off that day and have never asked for an advance again.
I do think that it is geared towards younger kids, especially if you buy the Jr. books. Those I would not have bought, but they were on sale. And actually my kids use them as bases for their lego creations, so I guess they are getting used
