Here’s how to get started with using allowance to jump start the budgeting process. Prepare for this discussion by giving your child a copy of their prior allowance contract.Continue reading
When it comes to spending money, kids generally will make a pitch for your wallet before they use their own resources to make a purchase. Its interesting that when kids, my own included, absolutely want or need something, the absolute want or need often goes away if they are forced to use their own money. Continue reading
Many parents agree to pay their child a set amount of money in exchange for completed chores. This payment then becomes the child’s allowance.I have been asked many times if this is the right way to introduce allowanceContinue reading
Before introducing the concept of an allowance to your child, they should have an understanding of the choices they have for money: save, spend, donate and invest. Here are some important things to consider and concrete suggestions on how to help get started before you start an allowance with them.
