2019-2020 was an exercise in teaching our elementary school-aged children personal finance, driving independence, and encouraging them to make constrained resource decisions.
School lunches were the initial test for all three. They LOVE buying lunch at school, probably because they rarely had been given the opportunity to do so. We started with the intention of ensuring they have healthy options packed with love each day. It lasted for three and a half school years, and frankly, we got tired. Worse yet, the kids didn’t appreciate it.
Historically, "Buy Days" were a result of running late and not having time to make lunch. On further reflection, we had made their own lunches as long as they could remember, so why not the chickadees? Check. One more thing to kidsource.
The new deal: those who wished to make their own lunches were invited to take the initiative to do so. Children who wished to buy also could do so, with the expense ($2.40/meal) coming out of their spending money.
With this in mind, we set their weekly allowance at $20.* Half would go straight to savings, and if they chose to buy their lunch, they could buy up to four days a week if they wanted to.
We stocked the fridge with many options for easily assembling their free lunches if they chose to do so. They held control in their own small hands.
When they heard this declaration, six bright blue eyes lit up like it was Christmas morning. We silently chuckled, knowing full well that for at least the first week or two, each child would put his or her own budgets to the test on school lunches alone. It felt like a powerful teaching moment - that would teach itself.
Boy were we right.
At their first opportunity, all three children decided to buy some if not all of their lunches that week. This was a big deal to them because buying lunch at school had been a rare treat. It was a four-day holiday week, and the girls bought all four days. The boy bought on three days. They each also slid extras onto their tab - Cheez-Its here, ice creams there. It was a veritable free for all.
Lunch transactions happen a bit differently today than they did 30 years ago. When Husband and I were kids, it was cash-based. Today the kids have accounts that get funded behind the scenes. Money is disassociated from the purchase of food for the kids. To be fair, that’s not unlike any other transaction in life with the prevalence of debit and credit cards. It also gives parents full visibility into what the students purchase and presumably eat.
The children felt liberated with their new spending power. I peeked in at their tabs partway through the week and gave them a little grief about the extras they were buying. I knew full well they were throwing away fruits and vegetables in lieu of the junk.
Noticing that Wee One had bought cupcakes this week and last, I commented on the price. Baby Girl was horrified, not having realized they cost $0.85 a pop. At five, Wee One didn’t internalize it, shrugging it off. I made a note to self to cut back on after-dinner desserts.
At the end of the week, I added up everyone’s tabs. At $5.90 spent, Little Man was the only one who didn’t lose money at the cafeteria this first week. Both girls exceeded their $10 income with $11.55 (WO) and $11.60 (BG). These amounts were deducted from the ledgers on accounting Sunday. It sobered them to see how quickly the money evaporated.
Midway through week two, the children were interviewed about their experiences with buying school lunches and the impact they saw on their bottom line. Each looked at it a bit differently, but all agreed that buying lunch was pretty awesome.
9-year-old Baby Girl:
Mom: “Tell me about buying school lunches.”
“School lunches usually cost $2.40, and that’s kind of a lot of money. And you only get $20 a week. You get to spend $10 and you get to save $10.”
Mom: “So how much did you spend this week?”
“At lunch this week, so far I’ve only spent $2.40. My goal is to spend about $4.80 a week. But if we get to go to the store to buy sometimes, I’ll try to buy stuff low. Not stuff like $30 bucks, something maybe like $10-15. But I will buy some stuff that are high also, like $35 if I have so much money because of all that saving.”
Mom: “So what did you like about buying lunch? What’s the best part?”
“The food - it tastes SO GOOD!! Yum yum yum! I love the food there. That’s why I buy. But I know I’ll use all my money if I buy every day, so I plan to buy just Wednesday and Friday. Every other Wednesday you get French toast sticks and I love ‘em! And on Friday you get Pizza!!”
7-year-old Little Man:
Mom: “Who paid for your lunches last week?”
“Me!!!”
Mom: “Alright, how did that feel?”
“Good”
Mom: “Yeah? What made it feel good?”
“I spent … The girls spent $6 more than me.”
Mom: “So what did that mean at the end of the week? That you spent less money than them?”
“I get $4.10.”
Mom: “Where did that $4.10 go?”
“Into my spending account where I can buy stuff.”
Mom: “What kind of stuff do you like to buy?”
“Their ice cream, their pizza, and some other stuff. I don’t remember.”
Mom: “So tell me how you felt when you saw your numbers go up on your ledger?”
“I didn’t think they looked that bad.”
Mom: “Oh good! Did you wish you did anything different last week, or was it just right? Do you wish you bought more lunch, less lunch, or the same?”
“Less lunch.”
Mom: “So what are you doing differently this week?”
“I’m not spending. I only spent like 60c.”
Mom: “Why are you spending less?”
“So I can have more money.”
Mom: “Oh what are you going to do with that money?”
“Buy a phone or something.” [Mom's inside voice: Nope, you're too young buddy!]
5-year-old Wee One:
Mom: “What did you think about earning money this week, Wee One? Did you like it?”
[thumbs up] “Yes!!”
Mom: “A thumbs up, ok cool! How much money did you spend at lunch this week?”
“Ummmm, two dollars? And twenty-five cents?”
Mom: “No… $11.00.”
“$11.25”
Mom: “How much money did you earn this week?”
“Zero.”
Mom: “$10.00”
“$10.00”
Mom: “So you spent more than you earned. What happens if you spend more than you earn all the time?”
[Giggle]
Mom: “Do you know?”
“Nope.”
Mom: “You run out of money. If you have zero dollars, what do you get to buy at Target?”
“Nothing!”
Mom: “Do you want to buy nothing at Target?”
“No!”
Mom: “So what are you going to do differently this week?”
“Pack my lunch!”
Mom: “Are you doing that?”
“Yes!”
Mom: “Did you buy or bring today?”
“Bring!”
Mom: “So did that save you money?”
“Yes!!”
After a week and a half, things were looking promising on the school lunch front. The chickadees all started connecting the dots between what they do and how it translates into spending power.
Baby Girl identified where it was worth spending her money, specifically on French toast sticks. Little Man identified a path to saving money toward larger purchases. Wee One was still a bit clueless, but she still made a couple of lunches the second week anyway.
Putting a bow on top - neither of us needs to occupy our time assembling lunches. The children are involved and have a new element of control over their daily lives. Everyone just won - BIG TIME.
* Another blog post outlines the household responsibilities that come with the allowance, and the forced savings.
Stephanie Brooke Lennon is the author of Family Bank Blueprint, GoldQuest, and What Would Water Do? Simple Strategies for Navigating Life's Obstacles. Her titles are available in Paperback and Kindle on Amazon.com. Follow Stephanie Brooke on Facebook, Instagram, TikTok, YouTube, Twitter, Amazon, and at BrookeLennon.com.