08.10.2010 | Author: Consuelo Dalton |
It\’s true some people believe that you shouldn\’t give money
at a young age but, let\’s stop for a moment to consider the importance
of money matters for kids. It\’s
actually quite unfortunate that there is no such thing as learning about
money in school as our kids do with every other subject that they
learn. Just because it\’s not taught in school does not mean it\’s not a
very important part of their lives.
Why is teaching our kids about money important? Well, giving them a regular allowance would teach them some very important skills such as how to manage their money. If they have a toy or candy that they want to have saving their own money will likely help them understand the concept of trading money for products and how not watching what you spend will not get you what you need or want.
There are varying opinions as to when the proper time to give your children their own allowance. The best way to decide when is the right time is to watch your child and when he or she starts to show curiosity about how you spend your money and begins asking you questions about how money works then this is probably a good time to start considering the possibility of allowance.
Many parents give allowances when the kids accomplish activities such as tidying their bedroom, shoveling snow, putting away their supper dishes and doing the best they can in school while others tend to believe these are not good reasons to give your child an allowance really it has to be up to you to decide what is the appropriate reason for your child to start receiving money.
A lot of parents have different opinions on how much money the kids should receive where some believe giving for every year of their age is a great idea others think the child will then get too much or not enough. If you have more than one child than this may not be the best option for you as it may become very costly. Another factor to consider is how much you can actually afford. It\’s really best to sit down and consider what it is you will expect them or allow them to spend it on.
You\’ll also want to consider when you actually plan to give your kids their allowance. Some people believe it\’s a good idea to give it weekly, while others prefer every two weeks, depending on the age of the child some parents believe it is best to give a monthly allowance. However, keep their age in mind when considering this because, if they\’re too young they may lose interest.
No matter your reasons for choosing to give an allowance. Take the time to sit down with him or her and have a conversation about what it means to save money and spend it wisely. Try to keep your conversation, age-appropriate. It may even be helpful to teach older children how to budget and make a spending plan this will be a helpful skill; they will most likely appreciate later in life.
money matters for kids
Why is teaching our kids about money important? Well, giving them a regular allowance would teach them some very important skills such as how to manage their money. If they have a toy or candy that they want to have saving their own money will likely help them understand the concept of trading money for products and how not watching what you spend will not get you what you need or want.
There are varying opinions as to when the proper time to give your children their own allowance. The best way to decide when is the right time is to watch your child and when he or she starts to show curiosity about how you spend your money and begins asking you questions about how money works then this is probably a good time to start considering the possibility of allowance.
Many parents give allowances when the kids accomplish activities such as tidying their bedroom, shoveling snow, putting away their supper dishes and doing the best they can in school while others tend to believe these are not good reasons to give your child an allowance really it has to be up to you to decide what is the appropriate reason for your child to start receiving money.
A lot of parents have different opinions on how much money the kids should receive where some believe giving for every year of their age is a great idea others think the child will then get too much or not enough. If you have more than one child than this may not be the best option for you as it may become very costly. Another factor to consider is how much you can actually afford. It\’s really best to sit down and consider what it is you will expect them or allow them to spend it on.
You\’ll also want to consider when you actually plan to give your kids their allowance. Some people believe it\’s a good idea to give it weekly, while others prefer every two weeks, depending on the age of the child some parents believe it is best to give a monthly allowance. However, keep their age in mind when considering this because, if they\’re too young they may lose interest.
No matter your reasons for choosing to give an allowance. Take the time to sit down with him or her and have a conversation about what it means to save money and spend it wisely. Try to keep your conversation, age-appropriate. It may even be helpful to teach older children how to budget and make a spending plan this will be a helpful skill; they will most likely appreciate later in life.
money matters for kids
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