Hi everyone, I just wanted to share this with you.
Here is an article I just posted on my Allowance Secrets Blog.
Enjoy!
It really is an important decision to give or not to give children allowances. This debate on giving or not giving children allowances has been going on for years. I mean many, many years! No definitive answer has been reached yet.
Why is that? Why can’t we all agree on giving or not giving children allowances? What is so hard about reaching a definitive conclusion? What is it about this topic that drives parents bonkers? ;o)
In my opinion, it’s because this decision is a reflection of a family’s values. Every family has its own values. Every family’s beliefs are their own. Each and every member of a family usually shares in these beliefs and values.
That’s why when one member of a family differs in his or her beliefs and values, tension arises and problems ensue. Imagine what would happen if one parent believes in giving children allowances and the other parent does not believe in giving children allowances. I’d like to be a fly on the wall during those discussions! ;o)
Truth be told, I don’t believe in giving children allowances. I believe in entrepreneurial skills and creative thinking over a straight allowance. I believe in fostering financial independence by helping your child find kid-friendly, creative ways to make money. Money is something to be earned, not given.
I have, however, listened to the other side of this debate. I decided to interview the top 25 “kids and money” experts, family coaches, and highly successful entrepreneurs to ask them to share their personal opinions and tips on whether or not to give children allowances. Here is the ebook I created “Allowance Secrets: To Give or Not To Give” illustrating their responses. So, before you make your decision, grab your copy, it is free.
I did, as I said before, make my decision and that decision was not to give children allowances. My own two children have never been given allowances. I have encouraged both of them to think of ways to earn their own money, rather than turning to us as their personal ATM.
I believe that it is my responsibility to ensure that my two children can leave the family nest with the necessary tools to make it on their own. I want them to feel secure in their ability to earn money on their own. I want them to live their lives financially free with as few money stresses as possible.
How on earth can children feel secure financially, know that they can earn money on their own, if we don’t provide them with the valuable lessons of doing just that! In my opinion, giving children allowances defeats these purposes!
It takes time and patience to encourage children to think of creative ways to earn their own money. Find the time and the patience needed for your children to grow into money savvy young adults. You won’t regret it!
I know that many parents combine children allowances with family chores. I don’t believe in paying children for performing family chores either. Family chores keep a family intact. I do believe in paying children for performing unusual, extraordinary chores for the family. Your children can also earn their own money by helping their neighbors out too.
Our family – Xanthe, Quinn, Rob and I – has its own financial beliefs and values. It works well for us. Your family has your own financial beliefs and values. It works well for you. There is no right or wrong decision to make when you are deciding to give or not to give children allowances. Whatever decision you make is the right decision for your family.
Here’s to encouraging our children to learn the wise ways to earn, donate, invest, spend and save money. Let’s hear it for discouraging children allowances!
Cheers … Amanda van der Gulik … Excited Life Enthusiast! ;o)
P.S. Don’t forget to click the Like button in the Facebook box at the top right hand corner of this page, if you like what you see and read, you can also visit my Facebook page
P.P.S. Leave your comments, I will personally reply to all of them and now you can leave comments with just your Facebook id as well.
Click Here to go to my Allowance Secrets Blog
