Thrifty Thursday

OK a friend of mine on one of my bargain boards has a blog. She does Thrifty Thursdays as a theme and I have decided to join her and post some here. Sometimes it will be mine own tip and sometimes it will be a tip I find somewhere else. (Of course I will always give credit and a link) You can visit Melissa's Blog here. I promise you will be happy you did.

Okay now on to my post: Since this is something I think is so important, saving money for our kids.
Now I am not talking college money or anything; though it could be used for that. I am talking just money for life's throws. It could be for the graduation items they want, or their yearbooks, etc.
I am slowly trying to learn the Dave Ramsey's Financial Plan. (Ken and I are actually talking about taking this if we can.)  Anyways one of the things that caught my eye right on was that he suggests a child's allowance equal one dollar for every year of age.

I have two children; age 3 and 5 months. So every other Wednesday I take and transfer $6.00 (two weeks for 3 year old) and $2.00 (for 5mth old, we count it as one dollar) to my savings acct. Ken and I do not give this money to the kids. When the boys are 8 they will get the money every two weeks and have to put half in savings; but until then it all goes into savings.  We use just one savings acct for all of our savings. It has each of my kids, my savings (rebates, money from crafts, etc), and household savings. I will post my spreadsheet later this week that I use to keep track of everything.

This money can be used for anything you like for your children. But if you take it out and put it in savings right when you get paid then the temptation is gone to spend it on that latte, soda, burger, etc.

I am always looking to save/stretch my dollar. My goal is to be debt free within the next two years (except a mortgage).