Allowance, Chores & Money Management for Kids

by Mandi on January 27, 2012

chores and allowance

source: Alan Cleaver

I’ve been blogging in this space — first Organizing Your Way and then Life…Your Way — for over three years now, and there are some great posts in the archives that don’t get much attention anymore. This week, I’ll be sharing some of my favorites. Whether you’ve been around since the beginning or are a new reader, I think you’ll enjoy them!

The great debate when it comes to giving kids an allowance is whether or not it should be tied to chores.

There are pros and cons to both viewpoints, but I’ve never understood why it had to be an either/or kind of thing.

First, let’s look at the debate:

On one hand, an allowance offers the incredible opportunity to teach our kids money management skills from an early age that really will serve them for a lifetime.

Proponents of this aspect of the allowance issue stress the importance of giving kids money regularly so that they can learn how to save, give and invest as well as learn to spend responsibly. However, they believe that chores are a family duty and payment should not be tied to the things that kids are expected to do anyway, so the allowance is usually a set amount each week.

[read more…]

  • Affiliate
  • email
  • Print
  • Twitter
  • StumbleUpon

5 Things You Should Know About Your Money

January 16, 2012
Thumbnail image for 5 Things You Should Know About Your Money

The following post is from Christina of Northern Cheapskate: I’ve met more than a few people who say they don’t worry about finances in their house.  They let their spouses take care of everything regarding their money.  They have no idea how much money their spouses earn, what their bills are, or if they have money [...]

Read more now…

8 Common Coupon Mistakes to Avoid

January 5, 2012
Thumbnail image for 8 Common Coupon Mistakes to Avoid

The following post is from Christina of Northern Cheapskate: One of the simplest ways to save money is to use coupons for your groceries and household purchases. But if you make these common coupon mistakes, they could end up costing you time and money when you shop: Not organizing coupons.

Read more now…

Financial Resolutions for 2012

January 4, 2012
Thumbnail image for Financial Resolutions for 2012

The start of the New Year is a great time to “turn over a new leaf”, so to speak, and over the next couple of weeks, I’ll be sharing ideas and resources to help you achieve your 2012 goals. Be sure to check out this list of ebooks to support your resolutionsas well! What are [...]

Read more now…

There is an Ugly Side to Consumers: Fraud

December 23, 2011
Thumbnail image for There is an Ugly Side to Consumers: Fraud

The following post is from Madison of My Dollar Plan and Kids and Money at about.com: According to the National Retail Federation, return fraud and return abuse cost US retailers between $13.9 and $17.7 billion in 2010, an increase of 45.4% from 2009. Ouch!

Read more now…

6 Steps to Get on Track Financially Next Year

December 15, 2011
Thumbnail image for 6 Steps to Get on Track Financially Next Year

The following post is from Christina of Northern Cheapskate: Sometimes when you get to the end of the year, you just want it to be over. Maybe you’ve made some bad decisions, had unexpected trials, or are just plain tired. There’s something rejuvenating about starting fresh with a brand new year and a brand new calendar [...]

Read more now…

Finding the Very Best Deals with ChoozOn

December 12, 2011
Thumbnail image for Finding the Very Best Deals with ChoozOn

Have you heard of ChoozOn? It’s a new deal aggregation site founded by former Yahoo! execs to help you find the very best deals with less effort, fewer emails and no buyers remorse! Sounds good, right? So how does it work? I’m glad you asked! ChoozOn a personal deal-hunting concierge that filter through the deals [...]

Read more now…

How to Save Money When Helping Others

November 28, 2011
Thumbnail image for How to Save Money When Helping Others

The following post is from Christina of Northern Cheapskate: The holiday season has a way of reminding us that sometimes we have more heart than wallet.  We want so much to help those who are less fortunate and to give generously to the people we care about.  Yet, we have to balance that with our [...]

Read more now…

ING Direct: $27 Kids Savings Account Bonus + More

November 26, 2011
Thumbnail image for ING Direct: $27 Kids Savings Account Bonus + More

We’ve been banking with ING Direct for many years, and we love the convenience and accessibility they offer. Right now they’re running a couple of really nice Black Friday offers for new accounts, and it takes just a few minutes to sign up! $27 Kids Savings Account Bonus ING Direct will contribute $27 to any [...]

Read more now…