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

family-safe home cleaners Morton Grove ..

In The News:

New SantaStealer malware reportedly threatens holiday shoppers with password theft. This Christmas-themed info-stealer targets browsers and crypto wallets.

The Christmas season brings a surge in Netflix phishing scams targeting shoppers with fake emails. Stacey P received convincing scam but verified account first.

San Francisco Giants invite Jamie Grohsong to throw ceremonial first pitch at Oracle Park after he learned to play baseball with a bionic hand following an injury.

FBI warns cybercriminals are stealing family photos from social media to create fake proof of life images in virtual kidnapping scams targeting victims.

Instagram's new 'Your Algorithm' tool lets you control your Reels feed in real time. The app now gives you power to customize what videos you see.

Major Marquis fintech breach exposes 400,000-plus Americans' data through unpatched SonicWall vulnerability, with Texas hardest hit at 354,000 affected.

Free up iPhone storage fast by clearing large photos and videos from Messages app. Simple steps for iOS users to delete attachments without losing chats.

Scammers are flooding inboxes with fake tracking alerts that mimic real carriers, exploiting the holiday rush to steal logins and personal data.

The Fox News AI Newsletter brings you the latest news on AI technology advancements and the challenges and opportunities AI presents now and for the future.

Texas family reunites with missing 11-year-old cat Grayson after 103 days using Petco Love Lost's AI photo matching technology and community help.

Tired of AI customer service loops? These insider tricks help you escape "frustration AI" and get real human help when you need it most for urgent issues.

Unlock richer audio from your streaming apps with simple tweaks to volume normalization, equalizer settings, and quality preferences for cleaner sound.

Scammers are sending fake Facebook settlement payout emails that mimic legitimate notices from the privacy settlement administrator to deceive users.

Holiday shopping scams surge as fake refund emails target distracted consumers during Black Friday and holiday seasons, costing Americans billions annually.

The AI-powered IRMO M1 exoskeleton features four modes, including turbo, eco, training and rest for hiking, running, cycling and sports with eight-hour battery life.

OpenAI announced upgrades for its ChatGPT Images platform on Tuesday, saying the program can now make more precise edits and produce images more quickly.

Chrome for Android now turns web articles into AI-powered podcast conversations. Get hands-free browsing with Google Gemini's natural audio summaries.

LastPass faces $1.6 million fine from U.K. regulators after 2022 data breach exposed 1.6 million users. Password manager failed proper security controls.

Petco disclosed a data breach exposing customer Social Security numbers, financial account details, and driver's license information due to a software error.

Baseball teams can now analyze complete swing mechanics in normal training environments using Theia's markerless AI system that processes standard high-speed footage.

Smart home hacking fears overblown? Expert reveals real cybersecurity risks and simple protection tips to keep your connected devices safe from hackers.

MIT develops needle-free glucose monitor using light technology. Revolutionary device could replace painful finger pricks for diabetes management.

The ClickFix campaign disguises malware as legitimate Windows updates, using steganography to hide shellcode in PNG files and bypass security detection systems.

Researchers from Osaka Metropolitan University designed a 21-foot dome that combines aquaculture and hydroponics to create a self-sustaining urban food system.

The Fox News AI Newsletter gives readers the latest AI technology advancements, covering the challenges and opportunities AI presents.

Is Your Child Ready For an Allowance?

Parenting