Financial Peace, Jr.

Anyone familiar with Dave Ramsey’s television or radio program have heard of his Financial Peace University. I’ve listened to Dave on and off for a decade, and I’ve heard his explain how to structure dividing a child’s commissions (not allowance!), but I never knew he had a practical hands-on version for kids.

Financial Peace, Jr. is a way to introduce kids aged 3-12 to the importance of work and how to manage their money. Not surprisingly, saving and giving are part of Financial Peace, Jr.’s structure. However, it also does a GREAT job of teaching a child to SPEND their money, with a way for a child to select something special they want to save for, post a picture of it and make a plan for how to save for it.

The package comes with colorful envelopes for Saving, Giving, and Spending, as well as a chore chart for tracking commissions (and fines), and a good child-oriented explanation of how and why to use Financial Peace, Jr.

Dave suggests displaying the charts on the ‘fridge, but we chose to mount a magnetic white board in a prominent location to hold the charts, and serve as a family message board. Because our kids switch between two sets of chores every other week, I made a Child A and Child B chart and along with changing the date each week after the kids are paid their commission, we also note which child owns which chart for that week. I outlined the days the chores are to be done in black sharpie. For the chores that are day specific, like taking out the trash, I outlined the days on which the chores are to be done in black sharpie. For chores that need to be done each day, I outlined each day of the week in sharpie.

We’ve used Financial Peace, Jr. for six months now and it’s worked quite well.


About peasleburgacademy

Homeschooling mom who enjoys the adventure that is homeschooling.
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