Not Giving Your Kids an Allowance? Here's Why It’s a Missed Opportunity! by Ellen Rogin, CPA, CFP

Parenting Money
5 years ago
Not Giving Your Kids an Allowance? Here's Why It’s a Missed Opportunity!

Allowance is one of the best ways to teach kids about money. Each week, your child has the opportunity to learn about spending and savings - and possibly giving, too. You can start as young as kindergarten. I suggest three parts to allowance: 

  • money they can spend
  • money they should save
  • money to give to charity

Let them decide how to spend it; don’t sway them (unless it’s on items you don’t allow in your home). This is how they’ll learn about wasting money, how buying stuff doesn’t bring happiness and other important lessons. 

Learn more about kids and money here!

start discussion

Please login to comment.

recommended tips

Cyber Bullying: 5 Signs That Your Child May Be a Victim!

Back-to-School Homework for Parents: 5 Things You Should Share With Your Child's New Teacher

Kids Being Bullied: 4 Tips to Help Parents Prepare Their Children When Faced With Bullying

Back-to-School Lunchables Shortage? Say What? A Mom of 4 Shares Easy Ways to Make Your Own Healthier Homemade Lunchables

Got 30 seconds? Sign up for 30Seconds.com and get the best of our tips each week!