A Child's Allowance
Whatever your view on giving an allowance to your children it doesn't lead to children feeling entitled. Two views on allowances:
- There are those parents who give an allowance without requiring the child to chores or create a form of exchange for the money they are given. This has lead to children feeling entitled to whatever they want.
- Then there are those parents who ask the child to do certain chores or other tasks in exchange for money. This teaches a child that nothing is for free and things are not handed to them just because they ask for it.
Whichever stance you take, I believe the second is the better. Teaching children from an early age to be money wise is the smart thing. They learn how to budget, save something for the future and even share with others by making a donation to something they believe in and want to support, like helping an animal shelter or people who may be not as fortunate as they are. Children who grow up with this lesson will never go without and will always know the value of money as something more than fulfilling momentary wants.
The best way to teach a child about the value of money is to pay them for chores. If they carry the groceries into the home, keep their room clean, take out the trash or carry a bag of leaves to the curb, why not give them a set amount, just like any job. Just keep the chore realistic to their age and what they are able to do. As they get older, if they mow a neighbors lawn, shovel snow or help with fall cleanup, and if they get paid, help them keep track of it.
Child's Allowance Worksheet
This is perfect for teaching children how to save for a specific purchase.
Date is the date they received their allowance. The
Allowance is to record how much money they received and the
Total is to record the cumulative amount. A very simple worksheet to start with. Once a child starts this process you may want to then introduce them to the next worksheet, Child's Budget.
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Child's Allowance |
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| Date | Allowance | Total Saved |
