Children's allowance

It is common for many mothers and fathers to ask themselves about children's allowance. Is it correct to give allowance? How much should I give in my allowance? This and other questions hang over the thoughts of various families. In view of this, we discuss here the most relevant aspects about the allowance.

Is it okay to give your children allowance?

Some families prefer not allow children because they want to control for themselves what the child can buy and how much they will spend on these items. But psychologists say that the sooner she begins to manage her own resources, the better she will perform this task later in life.

It is important for the child to have an allowance to understand what she can and cannot do, as well as notions of responsibility and decision making.

When the child receives the first allowanceIn general, he runs spend all the value on candy or games. And this is where learning begins. By spending the rest of the month without being able to spend more, they begin to realize that they cannot spend at once what they receive from allowance.

In this sense, it is essential for parents to guide him to learn how to spend this money intelligently, but to let himself decide how he wants to spend it.

When to start giving money?

Parents who want allow your children They can start the habit as soon as they have a sense of numbers and begin to interact with other people in society. An interesting time to start giving is when your child starts school and needs to buy the snack every day.

How to calculate children's allowance

THE son's allowance This need not be too high even for families with high purchasing power. It is relevant, however, that this amount does not differ much from the family's financial standard and the value that its social circle also receives as allowance. A nice tip is that parents should talk to their child's friends' parents to get a sense of how much their classmates or neighborhood friends receive.

O allowance amount may be increased each year or as arranged with your child. You can also propose allowance increase if it improves the attitude about your money. But it is important not to associate education and cash prizes too much, otherwise you run the risk of having a child charging you money whenever you do something right.

Tips for organizing with allowance

  • Assist your child, but let him choose what he wants spend the allowance;
  • Encourage your child to always keep a portion of the allowance so that he learns to save;
  • Give no more money if his allowance runs out early;
  • Encourage your child to plan before he or she spends so that he or she knows that if he or she spends too much, he or she will be broke for other things he or she wants to buy;
  • Create a rule with your child to encourage him or her to spend money well or save by rewarding him or her with a coin of $ 1 or $ 0.50 each month he or she makes money by the end of the month or each time. that he can save a certain amount;
  • Be an example yourself, not spending more than you should;
  • For older children you can opt for a prepaid credit card as an allowance;
  • Lastly, stick to family combinations, if the decision was to give X amount of money per month or week, don't give in to your child's requests.

It is noteworthy that the allowance is for your child to spend on things that will not be a problem if he is without and that should not include basic needs of the little ones.

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