Hi everyone, I just wanted to share this with you.
Here is an article I just posted on my Allowance Secrets Blog.
Enjoy!
Maybe you’ve almost made your decision. Maybe you’ve spoken to other parents and consulted with some experts. Perhaps it’s taken awhile for you to decide and your decision at this point is to give your kids an allowance.
If that is going to be your final decision, don’t give a straight allowance; give a kid allowance instead. Give a small amount of money no matter what their age is. A kid allowance covers what kids need, not what they want. More on this later.
The giving or not giving kids an allowance has been debated for years. And to be completely honest, I really don’t believe in giving any allowance! ;o)
I believe in entrepreneurial skills and creative thinking. I believe in fostering financial independence in kids by helping kids find kid-friendly, creative ways to make their own money.
I believe SOOOO much in providing the best financial values to kids so that they stay on a path of financial success. What, however, are the best financial values? Should a kid allowance or any kind of allowance be given?
I thought a lot about this too before making my final decision. I decided to consult the top 25 “kids and money” experts, family coaches, and highly successful entrepreneurs. What were their personal opinions and tips on giving or not giving an allowance (even a kid allowance)?
Here is the ebook I created “Allowance Secrets: To Give or Not To Give.” Before you make your final decision, go check the book out, it is free to download.
Let’s go back to your almost-made decision to give your kids an allowance. Why do I suggest that you don’t give a straight allowance, but instead give a kid allowance (as previously defined)?
A kid allowance covers what kids need, not what they want. It’s important to teach your kids the differences between wants and needs. They need food to eat when they are feeling light-headed and haven’t eaten in awhile. They don’t need candy and ice cream and soda just because they want it! ;o)
Kids need money to practice with too. Only with practice, will kids learn how to create income, manage it, invest it, give some away and learn how to make their money work hard for them.
Your role as a parent is to coach and guide your kids in developing realistic solutions to their money problems though discussion and discovery. How you give your kids money and what messages you are teaching is what’s really important.
Not all kids believe they can become entrepreneurs. To encourage your kids to find their inner entrepreneur, give a kid allowance. You can empower your kids to open their minds to the possibility that they can one day become self-sufficient. Yes, one day your kids can become independent, generous and, most importantly, happy young adults! ;o)
Here’s to giving a kid allowance (over a straight allowance) so kids will learn to 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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