Teach Kids Money: Tying Chores & Allowances
This is a guest post by Danny Kofke, a special education teacher and author of How to Survive (and Perhaps Thrive) on a Teacher’s Salary. Danny and I have been emailing back and forth for the better part of the last month or two, working on a guest post about children and allowances. I asked Danny to write this post because it involves a hotly debated topic in parenting – should you tie your kid’s allowance to their chores? Or should they do chores “for free” because they are part of the family? Here’s his take.
My wife, Tracy, is a stay-at-home mom to my two young daughters – Ava, age 5 and Ella, 2. We don’t make a large salary so we have to be frugal with our money. We are trying to pass on our values to our children. Ava gets an allowance every week for the chores she does. We check each chore off on a daily basis and at the end of the week Ava gets paid for doing these chores.
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When you hear the word budget – how does it make you feel? For some of us, budgeting is a welcome concept we employ with great success in our financial lives. But what about you? Do you feel constrained by the idea of budgeting – like it does not allow you to have any fun? Do you hear the word budget and inwardly cringe, and feel sorry for those who live by their budget? Is budgeting a four letter word in your life? If so, an adult allowance might be the answer for you.


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