Every two weeks my son and I exercise our money routine. This occurs every other Friday when I get paid.

We sit down after school and I bring out my checkbook and I prepare to write two checks. One to myself and one to my son. We both fill out the memo section individually. He writes whatever he wants and I do the same. After filling out the checks, we discuss what we wrote in the memo section.

He gets $25 every two weeks and has to decide what he will do with his money. Deposit it all, some of it, or spend all of it on a toy, game or snack. We then walk to the bank across the street from where we live and deposit the checks into our accounts.

Pay yourself before you pay anyone else

It is important that he understands that he needs to reward/pay/appreciate himself. First.

Invest in yourself

By paying himself first, he is learning the value of investing in himself. This is something I want him to learn at a young age as competing responsibilities will cloud his judgement as he grows older.


The importance of savings is invaluable. It is important for him to have money for an emergency, to allow money to build to buy something he really wants, or just watching his savings account grow. I allowed him to experience buyer’s remorse and has learned from it.


Of course he wants to buy the newest games out, hottest shoes, candy, or a new book from his favorite author. I teach him patience in buying things. There will always be a “NEW THING” to buy which makes the last purchase old. Saving more than he spends each time he gets paid ensuring growth in his account. Looking for sales. Mapping out purchases.

Someone else will buy it for him

He often asks how much do I have in my bank account. We check online and he gets excited. Of course immediately he thinks of his next purchase and I am usually guilty of telling him to save his money and I, his mother, or other family members will buy it.

These are lessons integral in my son’s financial education. And he’s only 10. But as his father, it’s my responsibility to make sure he has these foundations down because I can’t and won’t depend on his school or teachers to do it for me.