When To Consider Money Matters For Kids
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.Giving a child an allowance at a young age will give them the opportunity to begin to understand the concept of giving someone money for something such as their desire to have a toy or treat, a skill that will be necessary and may be considered easier to teach at a younger age.
Considering what age to begin offering your child an allowance is based on personal preference. It is however suggested to consider starting your child on an allowance when he or she shows signs that they are curious about how money is used. Once they started asking questions about your money it's probably good time to start giving them some for themselves.
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.
Deciding how much to give your child can be another daunting task for some parents. Some believe that money should be given for each year of the child's life, while others believe this may not be the fairest way to approach the situation especially if you have more than one child all different ages. It's a good idea to sit down and think about what you would like your child to do with the money. This may be a helpful factor in deciding how much they will get.
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.
Once you've decided when and for what reason your kids will be receiving an allowance it's probably good idea to sit down with them and have a talk about how important it is for them to do their best to spend the money wisely.If they're older, you might want to even think about discussing with them how to create a budget or spending plan to help them keep track of and save their money.
money matters for kids
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