The kids get $2/per week/each "allowance", to learn money management. They have had the same allowances since they were 5. We have discussed raising it but they just don't spend their money! So, will leave be for now.

I don't even think it's so much that they don't spend money. It's more that they are extremely frugal. For example, going in on most purchases together and primarily buying used goods, or just being generally creative with their purchases. Throw that in with generous grandparents and living in different times, and they just don't seem to have much motivation to spend.

SO... I am thrilled that I found 7% interest savings accounts for them last year. If they aren't spending then they are learning the power of savings. & they probably have a nice start to their car funds or college funds. Or maybe they will enjoy the blow money when they are teenagers. I really don't care what they do with it, as long as they are learning delayed gratification, learning not to keep their money under their mattress, and as long as they don't ask us to buy them things. ($2 per week is it. They do not ask us for anything. They know if they want something they can buy it with their own money).

Initial impressions of the kids spending and savings habits?

LM is the spender. But he is a frugal spender and so he can get away with it.

BM is not a spender at all. What's interesting is that he has a hoarder personality. I really think he just likes to hoard money. & this gives me insight into my own dh (a major money hoarder***). This is kind of counter-intuitive because BM doesn't buy anything but his room is piled high with crap. LM's room is very spartan, by comparison, though he buys more toys. (He also more readily gives them up when he is done - selling old toys to buy new toys, etc.).

***As to being a major money hoarder, I really don't see a downside. But I don't think either BM or my dh are too extreme, either. To the extent that they take it, it is all good.

Progress on savings accounts:

BM, age 11

$388 Beginning Balance August 2013
+ 35 Interest
+ 82 Piggy bank deposits (just allowance?)
+ 35 Birthday money
----
$540 Balance September 2014

He's been working really hard, wanting to top out his interest. (7% is only paid out on the first $500 of his savings account). He is doing so well that I told him I would match him my highest cash interest rate on his money above $500 (which is only earning like 0.1% otherwise). My current highest interest rate is 6%, so I am glad that will keep him motivated.

LM, age 9

$275 Beginning Balance August 2013
+ 27 Interest
+ 42 Piggy bank deposits (just allowance?)
+ 49 Birthday money
----
$393 Balance September 2014

I think he will get to $500 next year!