My daughters had no choice but to grow up with my allowance strategy that became the basis of my book. Now as a grandmother I enjoy watching my grandkids learning about money the same way.
Here are some comments from parents and kids about their no-cash allowance experience. Starting with my daughters, I asked why they adapted the same strategy with their kids. “Because that’s what we knew growing up.”
As a result money doesn’t stress me out. Would I like to have more? Sure. Wouldn’t anyone? But I pay the bills when they arrive and bank online like a pro. As a kid, I wouldn’t believed that my parents knew what they were talking about. I feel lucky that my mom and dad helped me develop this intangible, unconscious skill that prevented a lifetime of anxiety about finances and as it turns out, has saved me a log of money. Abby, started at age three
After graduating from college, I found adjusting to financial adulthood was as rough on me as it is on many people. Even with the best of planning, life happens, and in one year I had credit card debt that more than three times my monthly salary. Because of the no-cash allowance I had the skills and awareness to manage my spending and reduce Amy debt. I set up a budget, disciplines myself to make regular payments and paid off the entire amount in just under a year and half. Sarah, started at age 5
I wish I would have had this book in my mid-20s when the first two were born; I never thought that I would need to teach them to be financially responsible – boy, was I wrong. Kathy, mother of four who started a no-cash allowance for her youngest child
This book is a MUST read for every parent who is asking the question: do I give my kid an allowance or not? when do I start – what age is old enough? (and it’s sooner than you think) Lynne shares her proven process to teach children about money, responsibility, consequences and how to succeed – with a few lessons learned from being allowed to make a few mistakes, tough decisions, etc… on their own. The process allows children to “test drive” their money skills as the grow up. GREAT CONCEPT and it’s showing results in my household! LOVE IT!!! Amazon review
The greatest gifts you can give your children are the roots of responsibility and the wings of independence. best-selling author of the audio series, The Psychology of Winning ~ Dennis Waitley
Both my children are learning about money in a totally new way and are putting Lynne’s concepts into practice, preparing themselves to teach their children how to manage finances in a no-cash society. I urge you to read this book and get a new perspective on managing money. Amazon review
From the author As a mom, I set out to teach my kids about money. What they learned reached far beyond dollars and cents. My children learned essential life skills like confidence, decision-making and responsibility. I believe any family can be as successful as we were.The bottom line is that this approach shapes behavior through positive reinforcement by empowering children to make real decisions. In the end, this mom learned that it wasn’t about the money at all.
When your kids track all their money as a number, they become better money managers.
Read more: What this mom discovered about allowances
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