Allowance for Kids | Should You Pay It

Do You Know What’s the Most Important Factor In An Allowance for Kids?

Is an allowance for kids a wise thing to do?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.

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Student Loan Debt – Be Careful

Student Loan Debt Horrors

Student loan debtCollege tuition and related costs have skyrocketed over the past decade.  This is causing many students to struggle with a large amount of student loan debt when they graduate.

In 2013, the average student loan debt was roughly $33,000.00.  The shocking part is that this figure is 70% higher than it was 9 years ago!  In total,the number of students that apply for student loans almost tripled to over $950 billion.  If you are worried by the mounting college debt, this is an article that may be of importance to you.

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Counting Money Games

Counting Money Games

Counting money games

If you have read the other articles on my blog, you know how much I advocate children learning early money management skills.  The earlier children learn about money, the better.  Small children can begin with counting money games. Children who learn counting money games and practice early money management skills benefit in the following ways:

  • They never develop poor spending and savings habits that lead to debt later in life.
  • They are taught an early sense of responsibility and make wiser choices.
  • They avoid the negative connotations of money and rarely have a financial lack mentality.
  • The current mentality in our society about living above your financial means and having a lot of debt will not be carried forward with this generation of children.

Reason number 4 is very important and affects us all.  We can bemoan our current society’s spending habits but until we make the changes that bring about a new way of doing things, we are wasting our breath.  Complaining about something is worthless unless we are backing it up with action.  Teaching our children from the ages of 2 or 3 with counting money games brings about a change in their mentality.  Pushing for early money management programs in our schools are equally important.  Again, we should not wait for someone else to do what we can do, so teach your children financial responsibility and don’t wait for a school system to get on board before you do. Children learn best by seeing and doing something, instead of just memorizing.  Here are some ways to teach counting money games to children:

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Counting Money Games

Counting Money Games To Teach Children About Money

Counting money gamesIf you have read the other articles on my blog, you know how much I advocate children learning early money management skills.  The earlier children learn about money, the better.  Small children can begin with counting money games.

Children who learn counting money games and practice early money management skills benefit in the following ways:

  1.        They never develop poor spending and savings habits that lead to debt later in life.
  2.        They are taught an early sense of responsibility and make wiser choices.
  3.        They avoid the negative connotations of money and rarely have a financial lack mentality.
  4.        The current mentality in our society about living above your financial means and having a lot of debt will not be carried forward with this generation of children.

Reason number 4 is very important and affects us all.  We can bemoan our current society’s spending habits but until we make the changes that bring about a new way of doing things, we are wasting our breath.  Complaining about something is worthless unless we are backing it up with action.  Teaching our children from the ages of 2 or 3 with counting money games brings about a change in their mentality.  Pushing for early money management programs in our schools are equally important.  Again, we should not wait for someone else to do what we can do, so teach your children financial responsibility and don’t wait for a school system to get on board before you do.

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