How do you want your kids to learn to manage money? Do you want them to wait to make any mistakes until they are older, making decisions for them to avoid any mishaps? Or perhaps you would like them to make some mistakes with their money when the stakes are not too high?
I share today my thoughts on allowance, what I feel works, what we’ve done in our home in different seasons and I hope you will get more information to help you make the right decision regarding allowance for your family.
Some questions to keep in mind while listening and determining your plan of action:
1) What am I trying to teach my child by giving allowance?
2) Do I think chores need to be tied into the allowance or is that separate?
3) What is a reasonable amount for their age? When do I start?
4) Will this make your life more complicated or less complicated?
Crystal Pain of Money Saving Mom has done it again! I know, she is one busy lady, just releasing her “21 Days to a More Disciplined Life” only a few weeks ago – she now has released a Christmas eBook too. I’ve had to joy of looking it over and reading a few of the topics, like – planning your budget, decorating on a dime, creative gifts, teaching children to be givers and of course, my favorite – giving yourself GRACE! Get yours for only $.99 for 3 days only!
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What tips do you have for navigating allowance?
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