47

MomTalk.com August 14, 2018:   The women's magazine for moms about children, family, health, home, fashion, careers, marriage & more


MomTalk Most Popular Articles

Most Popular Articles



Sign Up for the MomTalk newsletter today!





Email Marketing by VerticalResponse




Instantly watch from thousands of TV episodes & movies streaming from Netflix. Try Netflix for FREE!



152403_Mar Coupon Code 125x125

Zazzle launches customizable Doodle Speakers

zulily: Daily deals for moms, babies and kids

126905_Shop Green Baby at Diapers.com + Free 2 Day Shipping on $49+

307728_Save Better - 125x125

Allowance Basics


An allowance can be a great way to teach your child money management skills.With an allowance, your child can learn how to make decisions, deal with limited resources, and understand the benefits of saving and charitable giving.


There's no one correct way to handle allowance. As you decide when to start it, how much to give, and whether you want to link the allowance to chores, it's important to make the choices that are going to be the best fit for your family and your situation.


Starting an Allowance

Though there's no particular age that's right to start an allowance, it's a good idea to start it by the time a child is 10 years old. By that time, it's likely that a child has many opportunities to make thoughtful spending decisions, but he or she still looks to parents for a significant amount of guidance.


How much allowance should you give? It's going to depend on your financial situation and what kind of commitment you feel that you can comfortably keep. Experts generally recommend that kids get 50 cents to $1 per week for every year of their age - $3.50 to $7 for a 7-year-old, for example.


Regardless of how much you give, it's a good idea to regularly disperse the allowance and increase the amount as the child gets older.
Jump to full text of this article here.



Categories: Family,

Tags: , ,
New FeatureRelated Articles: The Basics on Brightening Your Smile, Bluetooth Basics,

Leave a comment