• Budgeting • Delayed gratification • Saving Allowance is one of the best chances a parent has to teach a child about money. It is really the first time your child is learning to budget. Based on the child's age budgeting can mean just saving allowance for a few weeks to get something they want. If a child is older, it may mean having enough money at the end of the month to go to a movie with a friend. Delayed gratification is learning that you may have to wait for something you want. This happens when a child wants something from their allowance that costs more than a single periodic allowance. For example, your child gets $5 per week for all their entertainment, activities and toys and they want to do laser tag with their friends where three rounds cost $11. Your child has to learn to save his allowance until he has $11 and then wait for the next time they go to laser tag.
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