Do You Know What’s the Most Important Factor In An Allowance for Kids?
What do you think about paying an allowance for kids as a method of teaching them about money? There are many opinions on this subject and who is to say which one is best?
Some present arguments saying an allowance for children is one of the best ways to teach him/her to be financially responsible. Others, however, present evidence that is just as convincing to the contrary. Both sides do agree that paying an allowance for kids will only work if the child is old enough to count money.
Parents are split down the middle of whether an allowance for kids is beneficial or if it lends to the sense of entitlement so prominent in today’s society. My spouse and I struggled with the same issue while we weighed out the pros and cons of an allowance for kids.
There comes a time when parents with children begin to read books and decide how to teach kids about money. This is not just one simple conversation that you have with your child, but is an ongoing process.
