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(How to save and get the kids to clean the house)

My kids, aged 6 and 11, were always asking for things at the shops, or for takeaways, computer games and so on. They were both leaving things lying around and their rooms were in a mess. I decided to solve both problems with one answer - the PAYDAY scheme. Using my computer I made up a list of jobs both kids could do and decided after consultation with the kids, how much each job was worth. Making their own bed for example is worth 10 cents per day, washing up is 20 cents, and keeping a tidy bedroom for the week is worth a whole dollar! I also made up a sheet of 'personal cheques' a savings account sheet, a cheque account sheet, and a cardboard 'credit card'. At the end of each day the kids make a list of their jobs and payment due, and at the end of the week we have payday.

10% of the money earned goes to their savings account and 10% goes in 'tax'. The balance goes into the cheque account which can be accessed by writing me a cheque which is exchanged for cash. If they run out of money or need extra for purchases, they need to use the credit card which has a limit of $10. Using the card costs 20% interest per week - so they have not tried to use it yet; instead they save up for the things they want. At the end of the month if they have been really good at home and at school, they get a 'tax refund' of the tax they have paid - if they have been bad, I get to keep the tax money! They are not allowed to spend money from the savings accounts and both have over $20 saved already. It's great, no more added expenses for me every time I go near a shop, and I have a lovely clean house with well behaved kids. The whole system took about an hour to print and organise, takes 10 minutes per week to manage and cost me absolutely nothing to set up.

Contributed by: Janine Gaye

We have added everything you need for Janine Gaye's PAYDAY scheme here. Groovy cheques, funky savings sheets, snazzy credit cards, and even a fancy job list. Print them out, stick them up on the fridge, bedroom wall or pinboard, so they can watch their money grow! There are designs for boys and girls of all ages, and we can testify here at Simple Savings that they really do work. Get started right away!

Note: You will need Adobe Acrobat Reader to read these files. It is a free program and you can download it from: here

If you are having trouble downloading the PDF files, try right-clicking and selecting 'Save link as...', saving it to your Desktop then opening it from the Desktop.

PDF Pay Rates sheet (704 kb)
PDF Pay Rates sheet (partially filled example) (708 kb)
PDF Weekly Pay sheet (688 kb)
PDF Weekly Pay sheet (partially filled example) (690 kb)
PDF Account Balance Sheet (version 1, Superhero) (351 kb)
PDF Account Balance Sheet (version 2, Girls) (301 kb)
PDF Account Balance Sheet (version 3, Teen Boy) (427 kb)
PDF Account Balance Sheet (version 4, Teen Girl) (603 kb)
PDF Cheques (version 1) (774 kb)
PDF Cheques (version 2, Girls) (471 kb)
PDF Cheques (version 3, Boys) (389 kb)
PDF Cheques (version 4, Superhero) (419 kb)
PDF Credit Card (version 1) (257 kb)
PDF Credit Card (version 2) (255 kb)