If so, is it tied to chores? If not, how do you teach them to manage money?
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They use to :)
NO allowance yet. We'll start it up in a few years.
My kids do chores sometimes they get a little money but mostly they ask for a video game from Game Stop or a trip to the movies
DD is 4 and she doesn't get an allowance but I do give her a budget and tell her she could buy a shirt for $6. So she will hunt around and try to find something with a 5 in the price tag. We normally shop the clearance rack so I'm sure she will not find something for $50. lol
My kids will not be receiving an allowance. Chores are part of being a family, and don't require payment to be done. When they are old enough to get jobs (raking leaves for neighbors, babysitting) we will go over budgeting with them.
yes for chores
No. They don't really need the money yet. We ask them to help out. During the summer they have been helping me out and I ask them to help out on the weekends. During school year they don't. They need to work on their studies and have time to play. Plus we can not afford it.
She has on and off throughout the years but I finally found a system I like and hope that we can stick to. We will be starting it next month and it is tied to chores and behaviour. She'll have a money management sheet that she can track how much is in her piggy bank and how much she takes out. She has always had money and manages it quite well but this way she can see it on paper too.
No, they have to do chores to earn their tv and games for the next day. Sometimes they can do extra chores to earn money We used to give them 25 cents a day that they did all their chores. If they did them all week they would get $2.50 but we stopped
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