Have you noticed that your children are beginning to ask you for allowance, when they are doing their daily chores?
Do not worry, this is perfectly normal and there are many ways that you can deal with the situation, let us talk about them.
For many families, finances can be a bit tight and trying to get everything done perfectly all the time can be a hassle and cause stress, the one thing that you should never cave on as a parent is an abundance of unearned money.
Yes, teaching your kids how to save, manage, count, and handle their money is very important but, there is no reason that you should give when you do not have or hurt yourself financially just to appease your children.
Make sure that you start out small and gradually increase the work as well as the amount earned as they age.
The normal age to start giving out allowance, is typically around ten for most house holds, of course, the chores that they are involved in are nothing to serious.
Just think of it as a first grade lesson, taking out the trash, feeding any pets or animals you may have, helping one of the parents with the main chores, is a great way to start.
This kind of payment should start with ten dollars a week at the most, make sure that you let them know that they can either save the money for a large item, or spend it on something more casual like a candy bar from the local store.
It is important for them to not feel judged by what they buy or decide to do with their money, after all they did earn it.
This ‘freedom’ of spending will make them more enthusiastic about the amount of chores they want to do and they will enjoy the feeling of having their own cash to spend as they please.
Every time your child reaches their yearly upgrade in age, is the perfect time to increase the amount of chores as well as the price they are being paid.
It will make them feel like they have done good the whole year prior to that moment, which will also keep their energy high about doing the work every day.
Teaching children at a young age that work is actually a good thing, will increase their productivity in school as well as other fields of their life, hoping that they too, can be successful one day in their own field.
Make sure that you are not hurting yourself by never giving more than thirty to fifty dollars a week to your children for allowance as they reach into their early and late teen years.
This is because they are not working a full time job and the tasks at hard are nothing to be paid at a high amount.
Some parents make the mistake of thinking that if they pay more, the child will work harder but, this is not always the case, in fact, it could make them have a misleading life after they leave the house, especially if you are lenient on the kind of job they do at each task.
When your child starts asking for allowance, it is important to remember that you do not have to give it to them if you cannot afford it, there is no law that states you must and if you do have the extra funds to aid them a little more financially, make sure that you are doing it in a manner that is tasteful for both your wallet and their work done.