Allowance Alternatives To Teach Kids About Money

Providing an allowance to your child is a great way to teach reliability, responsibility, and financial literacy.

Using creative allowance alternatives to teach kids about money management is a valuable tool that will lay the foundation for budgeting, financial planning, and saving for essential things or life events.

Understanding the value of money also helps show your child the importance of generously giving, patience, strategy, goal setting, critical thinking, and maybe even the basic premise of entrepreneurship.

However, giving your kids extra pocket money regularly without having that money tied to a sense of accomplishment may create unintended results.

Whether or not to give your kids an allowance is personal, and the correct answer will be different for different families. 


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