Keeps a budget of earnings, tithe, savings, and spending money from his earnings working at the family

Math

• The child has learned how to calculate his earnings, tithe, savings, and spending money.
• Through budgeting, the child has developed an understanding of addition and subtraction as he allocates his earnings to different categories.
• The child has learned about percentages when calculating the amount of money to be tithed.
• By tracking his spending, the child practices basic mathematical skills such as addition and subtraction.

Continued development can be encouraged by introducing the concept of interest and compound interest. The child could research and calculate the potential growth of his savings over time using different interest rates. Additionally, the child can explore more complex budgeting scenarios, such as factoring in regular expenses and unexpected costs.

Book Recommendations

• The Money Tree by Sarah Stewart: A heartwarming story about a young girl who learns the importance of saving and budgeting.
• The Lemonade War by Jacqueline Davies: Two siblings engage in a competition to see who can run the most successful lemonade stand, teaching valuable lessons about money management along the way.
• The Richest Man in Babylon by George S. Clason: A classic book that offers financial advice through a series of parables set in ancient Babylon, teaching principles of saving and investing.