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Meg
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Unless we want our kids to grow up deficient with respect to money, we absolutely should give them an allowance. I believe in allowance because I feel it’s fairly inevitable - if you don’t give your children money now, you certainly will at some point, otherwise they won’t have any!

We give our kids guitars, soccer balls, skateboards, bicycles, etc. and we don’t expect them to be great riders, or players when they first put their hands on these things. That’s why we provide money to our kids, so that they can practice using it. We don’t pay for daily chores but we do let our kids earn money through more significant tasks. I also think it’s important for kids to understand that the money they get from us isn’t an unlimited amount whenever they want something.

Something we’ve been using that works well for our family is called www.allowancemanager.com. We love that it’s free and works on our phone or computer because it really helps us remember how much we’ve given to the kids - something I always seem to forget! Hope this helps! If anyone else has suggestions, I’d love to hear them.

Meg
  • 21
  • 2