Well day one - it is a beautiful sunny day here in the Valley, and this morning DH and I are baking bread, making yoghurt, ice blocks for this week. We then will be making the snacks up for the week and writing our menu plan with the kids when they wake up.
We will be having a weekly family meeting each Friday night after dinner over dessert (the only time of the week that it is allow lol).
At each meeting we will be discussing ideas, problems and suggestions.
Each of our children has their own calendar and on their calendars their days are marked out washing days, days that they need to feed the animals, meetings, things on etc.... This will be updated at each meeting.
The kids help with a phamplet deliver twice a week and receive $5.00 from each one, so they will receive their $10.00 from this each Friday and also their $10.00 pocket money. At the end of each month if they have not spent this money we will double it for them.
Out of their money they must purchase any thing they want through out the year, clothes, shoes, toys, books, dvd's, outings etc..... This will give they more control over their own money and how to use it wisely and they will learn that it does not go to far.
At each of the meetings the kids are to bring along their calendars to be updated, problems from the week, improvements for the next week both personally and as a family, 1 new saving idea that can be put into place. Our diary where we will be keeping our running costs for the family through out the challenge will be updated and we will go through what we have spent and highlight the things that we really could of done with out. We will add up what has been spent on food, and what hasn't been spent will come off our debt. We have allowed a food allowance of $80.00 per week only. The same will happen with fuel and a allowance of $100.00 per week has been allowed.
We have drawn up a hugh chart so we can see our debt coming down and this will give us a new lease of life at each meeting seeing it be reduced. The debt that we are aiming to clear in 2011 is $52,750.00
So here we go.
normally would have our family meeting on a Friday night to discuss how the week will pan out, do our menu plan etc.... but since we were out celebrating NYE last night it got moved forward to breakie today.
The kids are to bring to the meeting their calendars, which has their jobs on it for the week and things that are on in the family, 1 new saving idea, the amount of money they have spent over the last week, suggestions, complaints etc....
This will happen at the end of each week and give us some input on how we are going and where we are slacking off along the way. At the end of each month any money that the kids have not spent out of their pocket money and paper run we will be doubling it for them as a incentive. If they can do it for three months in a row they will receive a extra $50.00.
They is no spending planned for today so it will be a excellent day
