logo
g Text Version
Beauty & Self
Books & Music
Career
Computers
Education
Family
Food & Wine
Health & Fitness
Hobbies & Crafts
Home & Garden
Money
News & Politics
Relationships
Religion & Spirituality
Sports
Travel & Culture
TV & Movies

dailyclick
Bored? Games!
Nutrition
Postcards
Take a Quiz
Rate My Photo

new
Action Movies
Bible Basics
Houseplants
Romance Movies
Creativity
Family Travel
Southwest USA


dailyclick
All times in EST

Full Schedule
g
g Work & Family Site

BellaOnline's Work & Family Editor

g

Allowance For Children During Hard Times?


Should you give your child an allowance during hard times? If you can spare the money--yes. Or, perhaps you can cut back on something since an allowance may teach a lifelong money saving habit. Giving an allowance to children is a good way to teach them how to handle money and to appreciate a budget. It is never too early teach your child money management.

How can you make your child appreciate the value of a dollar? Explaining the consequences of making rash purchases, or overspending is very effective. The first thing a parent or parents must do is to decide how much the allowance will be and how often it will be given. A weekly allowance is ideal, perhaps Monday rather than Friday, since Monday is usually the beginning of a regular work week. The reason for this is two-fold, kids will better understand that this money must last through the week and the coming weekend, and they will be less likely to overspend during the week if they need money for the mall on Saturday.

How much should the allowance be? It should never more than you can readily afford, however, it must be a reasonable and practical amount. Discussing this issue with your child makes sense. Some things to consider:

Lunch: Is it taken to school or bought once there?

School supplies: Is the child expected to buy small necessities such as pencils or notebooks?

Snacks: Is there a school break when kids are allowed to buy chips, etc.?

After school snacks: Does your child stop by a sweet shop with friends after school?

Saving Is the child expected to bank a certain amount of his allowance?

Permissions: Will you allow your child to make a large purchase with his allowance? What if it is something you don't approve of? Will you set limits on specific purchasing? If so discuss it beforehand.

If your child makes a mistake and overspends or makes a bad purchase, do not punish him. Sit down and talk about the mistake. Do not take away allowance as punishment for an unrelated incident; do not threaten to withhold allowance because of incomplete chores or chores done poorly. Allowance and chores must be separate issues.

With proper guidance giving a child an allowance will teach good saving habits and goal setting.

Personal finance coach Suze Orman has a timely new book titled Suze Orman's 2009 Action Plan available from Amazon and other sources.
Add Allowance+For+Children+During+Hard+Times%3F to Twitter Add Allowance+For+Children+During+Hard+Times%3F to Facebook Add Allowance+For+Children+During+Hard+Times%3F to MySpace Add Allowance+For+Children+During+Hard+Times%3F to Del.icio.us Digg Allowance+For+Children+During+Hard+Times%3F Add Allowance+For+Children+During+Hard+Times%3F to Yahoo My Web Add Allowance+For+Children+During+Hard+Times%3F to Google Bookmarks Add Allowance+For+Children+During+Hard+Times%3F to Stumbleupon Add Allowance+For+Children+During+Hard+Times%3F to Reddit




RSS | Related Articles | Editor's Picks Articles | Top Ten Articles | Previous Features | Site Map


For FREE email updates, subscribe to the Work & Family Newsletter


Past Issues


print
Printer Friendly
bookmark
Bookmark
tell friend
Tell a Friend
forum
Forum
email
Email Editor


Content copyright © 2014 by Vannie Ryanes. All rights reserved.
This content was written by Vannie Ryanes. If you wish to use this content in any manner, you need written permission. Contact Vannie Ryanes for details.

g


g features
It's Not Always Be About Perfection

When the Shoe Fits...A Book Review

Is Your Family Bored?

Archives | Site Map

forum
Forum
email
Contact

Past Issues
memberscenter


vote
Poetry
Daily
Weekly
Monthly
Less than Monthly



BellaOnline on Facebook
g


| About BellaOnline | Privacy Policy | Advertising | Become an Editor |
Website copyright © 2014 Minerva WebWorks LLC. All rights reserved.


BellaOnline Editor