When To Give A Kids Allowance

When there are two parents in the home and money is not a big issue, they will generally give their kids allowance money that is fairly generous. Other homes are single parent, one income and money is given out based on the amount of chores the children perform around the house. These would consist of chores that can range from dusting and vacuuming to washing the car and mowing the lawn.


Many parents today can barely afford to give their children an allowance and in these hard times, if you have more than one child and are in a single parent home, you might not be able to afford it at all. When this is the case and you still want to reward your kids for a job well done, consider taking them to a fast food restaurant when you can and let them know they are being rewarded for all their hard work.

A child will usually understand if they have been raised properly and are made to understand that money is important to the daily functioning of the household. Bills are a necessary evil. Economic troubles are felt by all, even the youngest child.

One of the most important things a child can learn from their parents is how to manage money. They should be taught how to save, how to spend and how to make their cash stretch. They are less likely to complain and more likely to understand their situation when they are old enough to get a job outside the home.

When a child has been given control of some money during their formative years, they get some experience in what it is like when they are adults. They do not need the pressures of monthly bills stressing them out but understanding how to save is a quality that they should learn early.

Children do feel appreciated and acknowledged when they are able to receive a monetary kids allowance. When they are older, they will understand how to use their money wisely and save till they can get the things they want.