3 Reasons Why Giving Your Child an Allowance is a Good Idea
One of the great age-old questions pertaining to raising children is undoubtedly this: “do we give them an allowance or not”? It’s not hard to see why this is just a timeless question – it’s important to strike a balance between teaching children about the importance of money while making sure you avoid spoiling them in any way. With that in mind, this article will present you with some reasons on why it is a good idea and beneficial for your children to have the responsibility of receiving an allowance. Here are such reasons.
- An allowance teaches children the value of money - This point might be considered by some to be a tad bit cliche, but if children have experience having their own money it will undoubtedly teach them how precious and valuable money actually is.
- You might actually end up shelling out less cash – Think about how many times your kid asks for money to go do something with their friends. Instead of shelling out $15 bucks every time your kid wants to go do something, remind them that that is exactly what their allowance is for. By doing this, you may actually end up giving your kid less money than you would if they didn’t have an allowance.
- Teaches the importance of saving up – If your child has dreams about getting a new bike or a new video game system, they can learn to save up their allowance until they can finally afford whatever their dream item is. In other words, an allowance can help a child learn to save up money.