Allowances aren’t about money. Allowances are about parenting.
Provide the Financial Education Your Kids Need
Help them develop the essential life-skill of money management
- Create a plan for your kids and works with your family values
- Use allowances in a homeschooling setting to complement financial literacy classes
- Provide continuing hands-on experience from pre-school through high school
- Power to control their own money.
- Ability to manage age-appropriate expenses
- Independence in making decision and accepting the results
- Transferring money control to your kids so they assume responsibility for managing their money
- Requiring young kids to track every transaction in the no-cash allowance account, creating a money trail
- Initiating money conversations because money is now a neutral topic
- Helping them establish accounts in financial institutions as they get older
LATEST BLOG POSTS FROM THE NO-CASH ALLOWANCE
As more schools require a financial literacy course to graduate, adults continue to believe money education is best learned at home. In a recent survey some 83% of U.S. adults said parents are the most responsible for educating their children on the topic. Here’s the...
We are living in a time when understanding family generations and money is important. For the first time, we have seven living generations on our planet. The oldest was born a century ago. For them, writing a check was high-tech. Today's youngest generation may never...
When parents describe their kids’ money habits to me, they quickly label them as a money spender or saver. One mom says, “He can’t wait until he gets money.” Another tells me, “She just enjoys having money.” While parents easily identify these spending habits and...
If you want your kids to learn to manage money before they leave home, you will need is an effective allowance strategy that creates good money habits early. Parents, if you don’t teach personal finance lessons to your kids, they likely...
Looking for the best allowance app for your kids? The many choices and configurations available make it a daunting mission indeed. However, sometimes simple is best. Allowance apps do move kids away from cash-only systems by digitizing the money. This helps kids...
Whether your kids’ future includes homeschooling or not, there is one topic best taught in the home. Allowances make the perfect subject for homeschooling. And the most qualified person to teach your kids about money is you. Teach? Finances? To my kids? No way. What...