KidCash is as flexible as you are. We work hard to create as much value for you as we can dream up. Here are some of the different ways you can implement the system to get your creative juices flowing including our favorites, "The Reverse Psychology", "The Auction" and more.
If your child is reluctant to do something, offer them a choice: they can either do it themselves, or they can pay you to do it for them. For example, you can suggest that you'll happily help them get dressed in exchange for one of their Candy Dollars. Explain that in the real world, we pay for services, but when we can do things ourselves, we can save our money for other things. This approach teaches them about decision-making and the value of self-sufficiency.
In this phase, pay them immediately after you witness something you want to reward. This is done to create a more significant impact, which can be particularly useful when you're helping them overcome the challenges of a new or difficult task. It reinforces the positive behavior right away.
Spending a good period of time in this phase at the start of KidCash is beneficial. It establishes a daily routine of face-to-face discussions with your child. You provide the daily review and then give out their allowance afterward. This phase also allows you to go over the goals they are striving for. Consistent daily interactions at these critical early childhood stages are vital for shaping their personalities and behaviors.
Congratulations! Your child now fully comprehends what they need to do to continue receiving their allowance. They also understand that even on days when they're not paid, their daily activities are still being tracked and recorded for their weekly reviews. They are aware that their progress throughout the week directly impacts their buying power when they need it the most. This understanding is a significant achievement!
In situations where there's only one smart tablet and two kids, you can ask them which one is willing to pay more KidCash dollars to use it first. Then, set a time limit for their usage and teach them that being patient would have allowed them to save more money. This helps them understand the concept of choice and patience when it comes to spending their KidCash.
During this phase, you designate a specific currency or reward for a particular action or achievement. For instance, you might award activity dollars for each time you observe them putting in extra effort during soccer practice. Alternatively, you can use leftover device dollars they've saved by limiting their tablet usage for a specific game or activity. This approach tailors rewards to their specific actions and encourages positive behavior.
Teaching your kids the importance of saving is a valuable lesson. You can adopt the "pay yourself first" strategy by having them set aside a portion of their money every time they receive an allowance or once a week. This reserve of side cash can be a lifesaver when they need it most, instilling responsible financial habits from an early age.
