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
After years of teaching my kids about money I discovered two powerful successful allowance ingredients. My allowance as a kid failed to prepare me for the real world. Adulthood hit me like a hammer with that never-ending stack of bills. Then came parenting, a...
Cash allowances started missing the mark decades ago. Teaching kids about money only using cash is definitely out-of-date for today's kids. Using a no-cash allowance is a successful strategy. Now we do more cashless spending than 10 years ago. By the time your...
My allowance as a kid failed to prepare me for the adult world of money. When I became a mother I was not going to commit that mistake. Here are the basic allowance rules I learned for creating a successful experience for both parents and kids. Back in the 1970s when...
As a mom my job was to help guide my adorable toddlers to grow up to be competent adults. One important challenge was teaching them about money, something I definitely did not learn as a kid. As a mom there were 7 surprising things about allowances my kids taught me....
There are too many ways to set up allowances for kids today. For many parents it's just easier to give up. What this mom learned led to creating a successful allowance plan. Too many questions for parents There's a basketful of questions that parents ask themselves....
This is a repost of a blog I wrote eight years ago. Sadly not much has changed. Parents expecting financial education classes to teach their children about personal finance will be disappointed after reading a recent Survey of...