Give your children money with responsibility and the control to manage it all by themselves.
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. Give your kids debit card experience
- 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
Piggy banks are not financially literate. They are a fun part of childhood. Unfortunately, piggy banks can’t teach money management to kids.
What do you say when your kids start asking for money? Like most parents, you think they want money to buy stuff. Of course, they do. But if you dig deeper this is an opportunity for you to start teaching them how to manage money. Asking for money shows interest We...
When it comes to wealth and debt, kids believe what they see. They believe physical possessions are a sure sign of wealth; more stuff means more money. Wealth is an accumulation of valuable economic resources that can be measured in terms of either real goods or money...
Empower your kids by giving them control to manage their own money. Having money control is the only way kids learn the decision-making that is essential to developing financial skills. Simply having money without control is ultimately unrewarding and frustrating over...
With money in their written account, what responsibility do kids have in learning to manage their money? While living at home, if kids only spend as they desire, they don’t experience the responsibility of paying for some of their expenses. The “it's all about me”...
Kids need money to learn a valuable life skill—managing money. Not only is managing money a life skill, it is a life-long learning experience. Money is of critical importance to the ordinary operation of one's life or the world at large. ~ The Free Dictionary In other...