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Should Your Kid Earn an Allowance? - Words on Wealth
Kids and Money

Should Your Kid Earn an Allowance?

Parents want to know, should my kid earn an allowance by completing chores? A lot of us were raised that way but it may not be the best choice. Check out this quick video for my thoughts on giving an allowance and tying it to chores plus teaching your kids about money.

 

I think giving an allowance is a great way to teach kids about money. Yet parents don't always use this tool as well as they could. Want to learn more about giving your kids an allowance? Read Is It Time To Give Your Kid An Allowance? for more tips on how to teach your kid to manage money.

Not quite ready to give your kids an allowance but want to start teaching them about money (in age-appropriate ways?) I wrote Teaching Kids How to Handle Money just for you!

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