Teaching Kids Money

so I came up with a good idea how to teach kids money.

You become their bank and their credit card.

I am going to start with the basic with Sedona--

She can keep her money in her piggy bank--or give her money to me and for every dollar she gives me I will give her another dollar at the end of the month. (yes I know that interest level is why off--but I'm just teaching her.)

Plus I will tell her she can buy whatever she wants (at the dollar store, up to however much she actually owns, or $5.00), but she will have to pay me an extra dollar for every $2.00 she spends.


If this works when she gets older I will start showing her how to "invest" by placing her money in different piggy banks. She will earn different amount of money in different time periods---but won't be allowed to take the money out until that time period is done. She will have the basic piggy bank--where she earns her normal $1.00, and can use her money anytime.
Another piggy bank (thank goodness for the $1.00 store and their numberous piggy banks) will give $3.00 every month, but you can't have that money for 3 months...
Another one $5.00 a month, but no touching for 5 months and so on.
If she pulls any money out of those piggy banks early she has to pay me!!

We will see how it goes.