Value of money update: recycling pays off

Follow up to my previous article - Value of Money

After just about 5 weeks of my five-year-old collecting cans, plastic and glass, he was able to purchase the first "prize" of his choice, all on his own! It was quite an exciting day for him.... my own little "superman".

When we started he had set his mind on a goal - Superman Returns Inflato Chest - we looked it up online and saw that it was just about $25.00. So, I told him that he had to earn $50 recycling, then we would go buy it and put the other half of the money in his savings account.

On Tuesday, we counted it up and he only needed  $4 more to get his "prize". We didn't have a large amount to recycle (we try to wait until we have a few bags full so we're not making too many trips to the recycler) but I told him we could go. And he made  $4.19... perfect!

Next stop... Toys R Us. We went, found the Inflato Suit - he carried it, put it on the counter and pulled out his bag of $$ (mostly ones). I helped him count it out, but it was such a thrill to watch him buy something that he had earned. Such a change for our spoiled little guy. Of course I hadn't thought about the fact that I'd have to buy the batteries. But, I couldn't disappoint, and I wanted the whole $25 to make it into the savings account.

Next stop... the bank. I helped him fill out the deposit slip. But, he handed that along with the remaing cash in his baggie to the teller - got his receipt - which I proceeded to read to him, so he'd see how much he's saving. Of course I again had to explain why it's good to put money in the bank and save it there instead of spending it ALL on toys. I think he'll get it soon!

In working for his goal, he has also started asking what he can do around the house to help me out so that he can make more $$. It's great!