Allowance: When and How Much?

It begins at an early age–your 3-year-old sees a commercial for a shiny pink unicorn that sprays glitter from its mouth and decides SHE. MUST. HAVE. IT. It continues as your 7-year-old sets his eye on a Lego set that not only has 2,000 pieces but a $200 price tag. And then, it culminates when your teenager insists, “EVERYONE has their own car. I need one too! And look–this one is ONLY $8,000.”  (Insert parental eye roll here.) If you’re like the majority of parents, you want to give your kids the world–both providing them with opportunities AND with tangible gifts. But–also like the majority of parents–you know what a delicate balancing act it is to fulfill your child’s deepest desires and teach them gratitude and financial responsibility along the way. Sure, we all want to raise financially responsible children, but what’s the best way to teach them those skills in our consumeristic culture? In a world where money equals power, it’s increasingly difficult to raise grateful children who not only understand the value of a dollar but know how to spend that dollar wisely. I’ve been a parenting educator for 15+ years and have seen thousands of frustrated and … Continue reading Allowance: When and How Much?