life skills
allowance: pros and cons
All About Allowances
Tips for teaching your kids money responsibility
Money, specifically allowance, is a topic that comes up often
in many families. Should my child receive an allowance? What
age should we start? How much is appropriate? What should
my child’s allowance cover? This is a tricky area to navigate—
especially when power struggles over allowance develop.
Giving an allowance can be an excellent tool to show your teen
how privileges and responsibilities go hand in hand throughout
life. While many children receive an allowance based on
whether they complete their chores or make good grades,
authors Eileen and Jon Gallo of “Silver Spoon Kids” suggest
approaching allowance as an opportunity