🧒💰Teaching Kids About Money: Why Allowance Matter
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Allowance is one of the best tools a parent has to teach a child about money. It’s often the first opportunity for children to learn budgeting, delayed gratification, and how to make smart financial decisions. But how much allowance is enough—and how do you make it count?
🎯 How Much Allowance Is the Right Amount?
Determining the right amount of allowance is critical.
If it’s too little, your child won’t be able to practice budgeting.
If it’s too much, they won’t learn to make tough financial choices.
The right amount varies by age. For younger children, budgeting might simply mean saving up for a toy over a few weeks. For older kids, it could mean making sure they have enough by the end of the month to go to the movies with friends. You may even require a portion to go toward long-term savings or charity.
🕰️ Teaching Delayed Gratification
Delayed gratification is a core money skill.Say your child gets $5/week for toys and fun, and they want to play 3 rounds of laser tag for $11. That’s more than one week’s allowance. They must save and plan, maybe even skip other spending.
But if you give in and provide extra money, the child learns:
“I don’t need to save—Mom or Dad will cover it.”
👀 Visual Lessons Work
Watching money grow—or shrink—can be powerful.Give young kids their allowance in quarters. Let them drop coins in a clear jar. When they want to buy something, help them count the quarters and watch the jar empty. That visual loss often changes minds fast.
👨👩👧 For Parents, Grandparents & Caregivers
Whether you’re a new parent, grandparent, or a guardian, you can start teaching kids about money early. This builds a healthy, open relationship with financial topics—before bad habits form.
📚 Learn More: Companion Book & YouTube Series
These ideas come from our parenting guide,“Raising Financially Independent Children” (available on Amazon).Our YouTube channel expands on these concepts with real-life examples and stories in easy-to-follow videos.
🎥 The videos are perfect for:
Parents just starting allowance
Those teaching chores
Anyone raising kids who need to learn how to budget, save, and plan
🎓 Our Goal
We want to help your children leave the nest financially independent—with a budget, emergency fund, and solid credit score in hand.
Check out all our books on amazon ahttps://tinyurl.com/r8xy3ve or via our website
https://parentsfin.wixsite.com/website/books
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