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…
- Be clear. Keep it simple and realistic. To be used for “extras”…trendy things, “wants”…
- Be consistent. Stick with what you decide. Maintain a spreadsheet to keep track.
- Give control. Let them buy what they desire, with discretion, of course. 🙂
- Use cash. Have a talk about spending vs. saving. The more conversing about money, the better.
- 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?