Create A Child's Commission Board for ages 5-10. The commission board is made for each individual child and his or her interests and passions. It encourages young children to learn how to Give, Save and Spend their money in a kid friendly fashion. The commission board follows the computer game “Arctic Wolves” and the client is 10 years old.
Chores are custom named, in this case “Gems” and are written on the left side of the chart. “Bites” are less than satisfactory behavior and are also checks on the chart's last line. The formula for the child's allowance is the total number of checks times allowance paid. Each “Bite” check cancels a “Gem”, but three “Bites” or more equals $0 allowance for the week. A tally on the bottom is the total amount received less 10% for the Give jar, 45% for the Save jar and 45% for the spend jar. The child may spend their money in any way they please.
Children and many adults don't understand how to manage their money. Hopefully, this chart will encourage good financial habits for the rest of their lives. Its fun and easy concept for both the child and parent.
