Hi everyone, I just wanted to share this with you.
Here is an article I just posted on my Allowance Secrets Blog.
Enjoy!
Joann, sister-in-law to my friend, Martyne, has five children comprising two sets of twins and an older daughter. You remember my good friend, Martyne, who has one son, Stephen? ;o)
“An allowance for children in our family won’t work,” said Joann. Her oldest daughter, Julianne, is 15 years old. Her son, Georgie, and his twin sister, Kayla, are 12 years old. Her youngest twin daughters, Marisa and Diana, are 8 years old.
It doesn’t come as any surprise to you, does it?, that Joann and her husband, George, have been debating the topic of an allowance for children for a very long time. How much money should be given at what age has been hotly debated.
The oldest is only 3 years older than her siblings who are only 4 years older than their siblings. Once one child gets a certain amount of money at a certain age, all the other children are going to want the same amount at the same age.
An allowance for children in their household was going to total a lot of money being given out each week. Hard earned money (both parents work) just handed out like candy? An allowance, just being given, makes children believe it is their automatic right to get one. Was this what Joann and George wanted their kids to believe? No way! ;o)
Both parents wanted their children to grow up secure with their money. They wanted to teach their children how to get a good handle on how to create income, manage it, invest it, give some away and how to make money work for them.
For years, instead of handing out an allowance for children, their children were given money on a case by case/needed basis. This approach bypassed the issue of an allowance, but did it foster financial independence?
Most importantly, were they encouraging financial values that would put their children on a path for financial success? An allowance can led to a sense of entitlement. Giving money on a case by case/needed basis showed them that money was to be expected when asked for.
Neither path seemed to be the right one to follow. What did the experts think?
This free ebook “Allowance Secrets: To Give or Not To Give”, where the top 25 “kids and money” experts, family coaches, and highly successful entrepreneurs share their personal opinions and tips on whether or not to give an allowance for children, will give you some great ideas.
I am not a believer in giving an allowance for children.
Instead, I believe in helping kids find kid-friendly, creative ways to make money. Money should not be expected, but earned. It’s better to tell your money where to go than ask it where it went.
Children of almost any age understand the difference between spending your money and their money. Yours is easier! Your children need to learn that if they want money, they have to think of a way to create it. That’s the entrepreneurial mind set.
“There are only two ways to live your life. One is as though nothing is a miracle. The other is as though everything is a miracle,” said Albert Einstein. Tell your children that not giving an allowance for children is a miracle. Yes, it is! ;o) Earning your money is the way to live your life.
Remember, how we handle a situation is more important than what the situation is. Each situation is an opportunity to teach your children to be an empowered, self-sufficient, independent, generous, and most importantly, happy, young adult.
An allowance for children will be a hotly debated topic for a long time. No matter what your decision is, be, as I am, passionate about empowering our children with life skills and money savvy so they will be Clever with their Dough and have the positive self-esteem needed to live happy fulfilling lives as adults.
Cheers … Amanda van der Gulik … Excited Life Enthusiast! ;o)
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