Article Summary:
There are many good reasons why you should give your kid an allowance.
Kids Allowance: Why Should You Give Your Child an Allowance?
- They can make mistakes under your guidance
- They will learn how to save for the future
- They will learn that money doesn’t “grow on trees”
- They will appreciate what they have
- They will learn to make choices and set priorities
- They may stop nagging you for money
- There will be less friction in your household
- They will learn healthy financial behaviors
- They will learn your values
- You can teach them that it isn’t all “about the money”
- They will learn how to spend wisely
- They will be prepared to enter the grown-up world.
- Allowances will teach your children to be resourceful, independent and unique.
- An allowance is a “tool to empower your children to avoid commercialism’s clutches.”
- You can teach them to avoid the pitfalls of debt
- You can help them improve their communication skills around money.
- An allowance now could help them avoid future “marital money chaos”
- They’ll learn the difference between quantity and quality.
- They’ll learn how it feels to make a poor choice and have to live with it.
- They’ll learn how to resist impulses (sometimes, maybe!)
- They’ll learn to appreciate and take care of their things
Cindy Morus is a Certified Financial Recovery Counselor specializing in showing women and their families how to achieve financial well-being and peace of mind. She is also a Certified Credit Report Reviewer. Contact her at 541-387-2995 or at www.cindymorus.com. Get a free copy of the "Secret Credit Card Interest Negotiating Script!
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