Hi. My name is Jennifer Steed. I’m an agent here at Paradigm Life. Today this is your quick financial tip…

Hi. My name is Jennifer Steed. I’m an agent here at Paradigm Life.
Today this is yourquick financial tip on children and their view on money and value. I would like to beginby discussing value, value exchange and contributions. I like to use different words that representpositive values, whether I’m talking about contributions and value exchange versus choresand allowance. If you look at the meaning behind a chore it’s a hard task versus a contribution is 20 Brilliant IKEA Bathroom Organization Ideas an addition or adding to the overall value or the whole. Allowance is an expected sumof money for not necessarily an exchange of value versus a value exchange is what have done to produce value for someone else in exchange for that money I received or servicesthat I received. Also I like to use the words being producer or a consumer. A producer typically produceseconomic value, so pouring into the bucket or adding value.
A consumer utilizes thatprovided value. Whenever I talk with my children about providing value and whether or not they’rea producer or a consumer, I always like to make sure that they understand to be a producerfar more than they are a consumer so that they’re not taking more than they produce. Hi this is Shana Bethune on behalf Expert Village. I’m going to talk to you about choosing furniture for … Speaking to that, one way that I allow my children to create value in whatever formthat they choose is I have a value exchange jar in which we sit down together and brainstorm on chores or tasks or value exchange contributions, whatever you want to call that. I call thistheir contribution jar. We sit down together and we think up contributions that they cando that would add value and then we agree on a price tag for those contributions. There’s no limit to how much they can earn every day or every week.
Then at the end ofthe day we do an exchange for that value that they’ve created. That’s the way I see thisfalling into family legacy planning. Teaching our children positive attitudes and positiveviews on money and value exchange to them to pass on to their family and grandchildrenand friends, et cetera.