The Bank of Dad


Our Farmers are finally earning an income now, an allowance that is. Every payday, we all sit down at the table and dole out the funds, if they’ve earned it, to the kids. Then they have a choice of paying tithing, making a missionary donation, or depositing money into the 25% bi-weekly Bank of Dad to encourage saving. Every week since we’ve started, ALL of their monies, minus the Lord’s and Missionary, goes into the high yielding bank.

Now we’ve had a problem with yelling and general mean, bull-headedness in the family, so last nights F.H.E. lesson, we came up with a potential solution. Mandatory withdrawals from the Bank of Dad per yelling, sharp-tongued occurrence. The rate of exchange is an equal percent of their deposits. Maddy is knocked off a quarter, D.J.’s down 50 cents, Devin a dollar and Mom and Dad two dollars each.

I.O.U. slips will go into a jar for each offence and on banking day, the money is removed and put into a holding jar. The funds of which will be used for something to remind us of our bad behavior by looking up to whom we should all emulate, Jesus Christ.

Sounds a little backwards, I know, but the kids have finally realized the value of money, how long it takes to earn enough to buy what you really, really want and that consequences matter more than just taking away video games. If the money was used as a “treat” instead of a picture or statue of the Savior, there would be a lot of wickedness and more gray hairs upon my head. I hope that in the end, when we finally purchase the “goal” the kids will be more mindful of their words and attitudes. We keep telling them that our home - our family - is a refuge from the rest of the world who will be more than happy to belittle, tear down and destroy them for the fun of it. Not in our house!

Any suggestions or tips? This is the best we got at the moment!


  1. Connie said...

    Nope, you're doing it exactly right!! Yessssss, you give it to them and then take away for infractions, it hits home real fast and HARD. "Hey, I'm losing money!!" They shape up real fast when they see their "stash" dwindling. Works every time.
    Oooooh, where is the missionary meal sign up I gave ya, chickee. I didn't make it back to RS sunday.... Really wanted to hear the message also. Call me...

  2. nevertheless said...

    I love it! I think that I am going to have my kids start paying me if they don't have their jobs done by the deadline. I might see things done a little soon and less mom involved. I will keep you posted.

  3. young family said...

    Perfect idea, I like the idea of buying something to remind them every time they see it. Good idea. I have never done an allowance because frankly I don't think I would keep it up, it takes a lot of time to do this.

    You are such and awesome Mom!! I love the idea, I can't think of anything else you could do.

  4. mandbrid said...

    Awesome idea Stacey! I might have to give it a try...Miss you!