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Jan
From The Simple Dollar – Young Children, Allowances, and Financial Focus
For us, 2010 was a year of learning for both the parents and the children in our household about what allowance means, how it works, and what kinds of money lessons our children are learning. Let’s roll back the clock to November 2009, when our children each received piggy banks and the allowance adventure got [...]
I’m currently reading “The First National Bank of Dad”, and like this article, it says that the best way to teach kids about money it to give them some.
- Published by Bryce Beattie in: Links
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3 Responses to “Young Children, Allowances, and Financial Focus [LINK]”
I read FNBoD too a while back – really great book! If you’re looking for an online way to implement your Bank of Dad, swing by our site. Of course, a spreadsheet works too – that’s what I started with.
I agree, but I would reformulate this into give them opportunity to earn money by doing some little jobs for household. I think this is better then just giving money.
I totally agree with giving them opportunities to earn their allowance, however I would take it a step further (when the child gets old enough) give him/her the choice to start putting their allowance into their own bank account, or into their pocket. This way they can learn the value of saving while still being able to experience the worth of a dollar.
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