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

disinfecting cleaning services Highland Park ..

In The News:

NVIDIA GPU space mission could revolutionize cloud services by enabling orbital data centers that make apps, games and AI tools faster and more efficient.

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

Microsoft warns Windows 10 users face serious security risks as 90% of ransomware attacks target unsupported systems. Learn why upgrading to Windows 11 is crucial.

Nike unveils Project Amplify, revolutionary motorized shoes developed with Dephy that add powered assistance to every step for runners and walkers.

Cybersecurity experts warn about one of the largest credential compilations ever found, urging users to check "Have I Been Pwned" and change passwords immediately.

Quick iPhone and Android battery optimization techniques help your device stay powered all day by turning off hidden features that secretly drain power in the background.

Kodiak Driver autonomous truck achieves perfect 98 safety score, matching top human fleets in groundbreaking AI evaluation by Nauto's VERA system.

New 401k catch-up contribution rules in 2026 will change taxes for high earners over 50. Learn how scammers exploit these changes and protect your retirement savings.

Kurt Knutsson's guide covers social media privacy protection through location settings, account privacy controls and two-factor authentication to prevent scams and data breaches.

Revolutionary retinal implant restores central vision in 80% of patients with advanced macular degeneration, offering hope where treatments once only slowed blindness.

Learn how to use passkeys on Windows and Mac computers without cameras or fingerprint readers. Discover secure authentication methods that replace passwords.

Tesla's FSD v14.1.2 update reintroduces Mad Max mode, enabling higher speeds and more frequent lane changes than the standard Hurry profile setting.

A phishing email scam targeting American Express customers shows how cybercriminals use fake urgent messages to steal personal and financial information.

Facebook's new Meta AI feature analyzes your camera roll photos to create polished collages automatically, but requires cloud processing and raises privacy concerns.

A New Jersey teenager filed a major lawsuit against AI/Robotics Venture Strategy 3 Ltd. over ClothOff, an AI tool that created fake nude images from her social media photos.

Microsoft reports Storm-2657 cybercriminals sent phishing emails to 6,000 addresses at 25 universities to steal payroll credentials and redirect funds.

Astronomers have discovered asteroid 2025 SC79, a skyscraper-sized space rock orbiting the sun in just 128 days. the second-fastest known.

The Fox News AI Newsletter delivers the latest developments form the world of artificial intelligence, including the technology's challenges and opportunities.

A cyberattack on SimonMed Imaging exposed personal information of 1.2 million patients, including medical records, financial details and identity papers.

Spotify's managed accounts for kids under 13 now available in at least seven countries, allowing parents to filter and block explicit content and songs.

Friendly text conversations about BBQs and social events can lead to WEEX gold trading scams that target older adults with fake investment opportunities.

California company Skyeports creates self-healing glass spheres from Moon regolith that generate solar power and support plant growth for sustainable lunar living.

Cleafy researchers discover fake VPN streaming app Mobdro Pro that installs Klopatra banking Trojan, giving attackers full control over Android devices.

Police departments across the U.S. and Canada are adopting virtual reality training to better prepare officers for high-pressure, real-world situations.

House Bill 469 would prevent AI systems from owning property, serving as executives, or gaining legal personhood in Ohio under Representative Thaddeus Claggett's proposal.

Is Your Child Ready For an Allowance?

Parenting