How to Make the Most of Your Knot String

As simple as The Knot String concept is, there are some ways to make the best experience possible. Here are some tips that expose some great lessons while you are teaching simple budgeting.

Do Not Apply The Knot String to Food, Snacks, or Candy
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Do Not Take Knots Away for Bad Behavior
This can be counter-productive and erode the empowerment they learn with the knots. If you introduce ways to lose knots, the knots are no longer positioned as “their” knots.

Add Knots, but Not for Good Behavior
If you begin to reward your kids behavior with money, it can muddy the waters around empowerment and entitlement.

Introduce the Idea of “Earning” Knots
A few weeks before your trip, offer to add knots if they perform some chores or tasks. Always use “knots” not money doing this so you have some flexibility in how you administer the knots later.

Substitute “Allowance” with “Interest”
If your child saves the knots for a period of time, give them an extra knot as “interest”. Don't go into interest in detail, just say “Banks will pay you to hold onto your money...the longer it stays, the more the bank will pay you based on how much you have already saved.”

Be Consistent with the Knot Values
If you want to allow you child to buy a 4-knot item, but you only untie 2 knots, they will become confused. Stick to a set value. If you want to add knots or offer to “split” the cost somehow, then be clear about the arrangement. Consistent values of the knots are very important to them understanding the budget lessons.

Allow The Knot String to Live Beyond the Vacation
Avoid a “user it or loser it” rule. You may find that The Knot String can become an every day fixture for as long as the child likes using it. It can become a very powerful tool in teaching some complex financial concepts!