We had a mom write in with some ideas that she uses with her own kids at home. We thought they were great, so we wanted to share them with you.
All Allowance Articles
Letting Kids Participate in Family Money
Posted on October 27th, 2011 by JeffAllowance Best Practices According to the Experts
Posted on July 11th, 2011 by JeffAccording to one expert, the right time to start an allowance is as early as your kids start to understand the value of money (usually around age 6).
Top 10 Money Tips for Parents
Posted on May 19th, 2011 by Jeff“But why do I have to wait two weeks?” said my 12 year old son. “O, come on, please! I really want it and I won’t want anything else for a long time!” This was almost a weekly ritual in my house as my son would look through the Sunday ads for good “deals.” We had tried many things, including a mandatory two week waiting period, but nothing seemed to really help.
A Budget is a Budget – Except When It’s a Spending Plan
Posted on March 16th, 2011 by BobOne of our earlier blog responders suggested that “budget” has negative connotations these days, so he prefers “spending plan.” He suggests that this indicates that the planner is in control of his or her own financial destiny.
Can’t Afford to Pay an Allowance? Maybe It’s Just How You Define It.
Posted on February 28th, 2011 by BobA few weeks ago I wrote a post about paying allowances, noting that it is “one of the big conundrums of parenthood”. One of our FamilyMint parents commented that paying allowances was difficult in light of her family’s limited “spending” money, so I wanted to touch on the topic again with that in mind.
Self Control is the Real Lesson of Budgeting
Posted on February 23rd, 2011 by BobAs parents, we have a responsibility to build our children into adults who don’t just cope, but thrive. A lot of it boils down to teaching them self control in making good daily decisions, including how they manage themselves – and how they manage money.
A View from the Other Side…Allowances
Posted on February 7th, 2011 by BobOne of the big conundrums of parenthood is whether or not to give your kids an allowance. A lot of it is based on your own experience, your view of its place in parenting, your financial situation, etc.
Teaching Kids to be Money Smart
Posted on November 6th, 2010 by BobCreating money-smart kids doesn’t happen overnight. It’s a skill and a behavior that has to be nurtured over time. The skill lies in learning the value of saving, giving, and spending conscientiously and understanding the difference between wants and needs. The behavior comes from the habits formed in doing these things over time and learning from mistakes.
Tips on Giving an Allowance
Posted on July 26th, 2010 by BobAn allowance is a great means to teach children how to manage money, develop budgeting skills and encourage independence. By giving an allowance and giving the child the responsibility to pay for the things they want and activities they like to do, it helps them see money is a limited resource and they must budget it wisely.
Kids and Money – Practical Tips for Parents
Posted on April 20th, 2010 by BobUSAA recently had webinar program with experts answering parents questions and providing tips around kids and finances.