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This was informative.  Just like many moms and dads, I do not have a clear understanding of when, what for and how much to give for allowance.  So, take a look at these suggestions…

  1. Be clear.  Keep it simple and realistic.  To be used for “extras”…trendy things, “wants”…
  2. Be consistent.  Stick with what you decide.  Maintain a spreadsheet to keep track.
  3. Give control.  Let them buy what they desire, with discretion, of course.  🙂
  4. Use cash.  Have a talk about spending vs. saving.  The more conversing about money, the better.
  5. No chores.  Sometimes linking money to chores can backfire.  Instead, when your child goes ‘above and beyond’, then, offer a reasonable payout.

Do you give allowance?  Let me know how you feel about it, wouldja?



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