Home
>
Parenting
>
Is Your Child Ready For an Allowance?

Is Your Child Ready For an Allowance?

Children think money grows on trees. Maybe not literally, but they sure think there is a never-ending supply of it. They see you at the grocery store pushing a cart overflowing with the week's groceries; you hand the cashier a piece of plastic and suddenly it's all yours. People come to the door asking for money to support a charity and it magically appears from the bottom of your purse as if you were pulling a rabbit from a hat. Instead of "mama" or "dada", "checkbook" might have been your child's first word. It makes no sense to them then, that every time they ask for something they'd like from the store the answer is usually no. How do you teach the value of money to a child?

Is an allowance the answer?

Many parents think that giving an allowance is a good way to teach their children about money. There are two schools of thought on this issue. One theory is that the child completes a few agreed upon tasks and receives a small payment at the end of the week. Then, if he sees something he'd like in a store, he would be told to save his allowance in order to purchase it. Some people feel that this sets the child up for a "what will you give me if I do it" attitude and soon everything you ask him to do has a price attached to it. Others feel children should learn that in order for a family to reap the rewards, each member of the family should take part in the upkeep of the household. When there is a mess, clean it up. When there is laundry to be folded, lend a hand with the folding or putting it away. When there is yard work to be done, everyone can pitch in according to his or her ability and work together towards a common goal. Then, when the child does see something in a store and asks to have it, the answer is usually yes. I was a believer in the first example, until I put it to the test.

My experience

Our daughter Emily is four. Out of the blue she started to make her bed every day after she got up. It won't last long, I thought, but day after day she dutifully did it to the best of her ability. I seized the opportunity to teach her the value of money, because like most four-year-olds, she thought every toy she saw on TV was well within our means. I started giving her an allowance of 25 cents a week to see what would happen. The first month she would get very excited when Fridays came around and she would get her shiny quarter. As I handed her the money I would always say: "you did a good job this week honey, you were a big help to mommy around the house." I would describe certain instances where she had volunteered to help me and I told her how much I appreciated her thoughtfulness. At first she put her allowance into her piggy bank, sometimes emptying her cache and playing with it. But little by little the money started losing its value. I would find the quarters left on the kitchen counter where it would stay until I put it into her piggy bank for her. There were also weeks when I forgot to pay her but I always positively reinforced her good behavior. I discovered that money means nothing to her and my praise means everything.

The outcome

Perhaps my experiment with giving Emily an allowance didn't turn out quite the way I expected, but it did teach me a lesson about what meant more to my daughter. When we go to the store and she asks for a particular toy, we weigh it out. If we agree that it's affordable and it's been a while since she's had anything new, then I will buy it for her. The only exceptions are educational materials or books. These I will always purchase for her without question. I have found this to be the best solution for us.

About The Author

Heidi Hoff

Editor, Preschool Planet

Subscribe and get "100 Things to

Make From a Cardboard Box" FREE!

http://www.preschoolplanet.com

http://groups.yahoo.com/group/preschoolplanet/j oin

bmw rental chicago Westchester .. Lockport Chicago limo O’Hare

In The News:

Kurt “CyberGuy" Knutsson: FBI warns of "time-traveling" hackers.

Kurt “CyberGuy" Knutsson talks about a soft, vine-like robot called SPROUT that aids safe survivor rescues in collapsed buildings.

Health insurance giant Blue Shield of California confirmed it had been sharing private health data of 4.7 million users with Google for three years without even realizing it.

Delta and JetZero’s blended wing body aircraft marks a meaningful step toward a cleaner, quieter and more efficient future for air travel.

Recent reports show many common passwords can be cracked in literally seconds. Kurt the CyberGuy explains how to strengthen your passwords.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Iron, a robot that stands 5 feet, 8 inches tall and weighs 154 pounds, combines advanced artificial intelligence with human-like movement and exceptional vision.

Hertz, the rental car giant, recently confirmed that customer information was exposed through a cyberattack on one of its software vendors.

There are a number of features with AirPods you may or may not know about to take your listening experience to the next level. Kurt the CyberGuy explains.

These 35 Chrome extensions have privacy and security concerns. Tech expert Kurt “CyberGuy" Knutsson says to delete them now.

Tech expert Kurt “CyberGuy" Knutsson says 329,000 mph fusion rocket promises to be fast, disruptive and enable deep-space missions.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Tech expert Kurt “CyberGuy" Knutsson says a new autonomous AI is a game changer that also raises privacy risks. Is your data safe?

Tech expert Kurt “CyberGuy" Knutsson says robots and drones are revolutionizing fruit farming with faster picking and smarter handling.

Landmark Admin revises May 2024 cyberattack scope to show twice as many people were affected. Kurt “CyberGuy" Knutsson gives tips to help stay safe from an insurance data breach.

Tech expert Kurt “CyberGuy" Knutsson talks about how Yamaha’s hydrogen outboard motor could revolutionize boating with zero emissions.

Tech expert Kurt “CyberGuy" Knutsson reveals how to memorialize or remove a deceased loved one’s Facebook account and protect their digital legacy from misuse or scams.

Tech expert Kurt “CyberGuy" Knutsson says an Apple Watch saved psychiatrist Amanda Faulkner by detecting deadly leukemia early.

Scammers and fraudsters are increasingly targeting the most vulnerable, especially nursing homes and the personal data of their residents. Kurt the CyberGuy has safety tips.

Infected USB flash drives can spread malware among multiple organizations in ways that can easily bypass traditional security systems.

With a fully automated warehouse system and AI-powered robots, Ocado's Hive picks, packs and delivers grocery store orders in just a few minutes.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Recycling robots are using artificial intelligence to learn how to sort recyclables by recognizing patterns in colors, textures, shapes and logos.

The Reachy 2 robot is designed to be friendly and approachable, inviting natural interaction and is perfect for research, education and experimenting with embodied AI.

Kurt "CyberGuy" Knutsson shares several easy ways to keep your credit cards safe from digital thieves while you're traveling this summer.

Is Your Child Ready For an Allowance?

Parenting