Monday, May 12, 2014

3 Effective Uses of an Allowance

For many families, using an allowance to encourage children to do chores is an effective means of both teaching responsibility and money management. For other families, linking chores to an allowance means that the children only learn to help out around the house in exchange for payment. It is important for parents to sit down and talk about what they hope their children learn from the experience of getting an allowance. Here are three common methods you may wish to consider implementing:
  • The “You’re Part of the Family” Strategy
  • The “Must Work for Your Pay” Technique
  • The “Request as Needed” Method
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