When Do You Stop Giving Your Kids Money For Nothing?
Just saw this on judge joe brown-at what age do you make them understand that it does not grow on trees? Other words when do you make it a loan or make them work for it?
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I think if they are old enough to be asking for money they are old enough to understand it comes with work. Even if it is as simple as.. You have these chores and you will get paid x amount for doing them. When My teen son wants Money he knows its mowing grass or cleaning out the garage.. Or doing something extra besides his usual taking out the garbage and taking care of the animals and helping with the laundry.
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The minute they start asking for money and do nothing for the money! Like cleaning their room, their mess and their mess! Lol
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Our parents taught us the value of money, that is not to waste it without thought on useless purchases. So we learned very early on to evaluate the things we wanted, whether we should buy it, or if it was too much. There was always some cash in the house for us to go to on our own, and to just report back after the purchase so it would be replenished. We were trusted to make the decision. There was never any yours or mine money. So as children, we were never deprived of money and therefore we never put much importance on the pursuit of money.
We have all grown up alright. None of us is rich--probably because we never look at money as life's goal. But we're happy and content.
That was the way we brought up our daughter: Not to set up money or grades as the goal, but rather what you do and how it enriches you life. Now that she's grown up, we couldn't have been more proud of her.
We have all grown up alright. None of us is rich--probably because we never look at money as life's goal. But we're happy and content.
That was the way we brought up our daughter: Not to set up money or grades as the goal, but rather what you do and how it enriches you life. Now that she's grown up, we couldn't have been more proud of her.
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Personally, I don't believe parents should ever give their kids money if they don't do anything. By the time children are ready to get an allowance, they should be ready to perform some types of chores to earn that allowance and to learn the value and the relationship between money and work. Once they are prepared to have some control of their own money, they should be ready to perform some household chores to earn that money. It doesn't have to be backbreaking labor. It can be something as simple as dusting some furniture, putting their clothing away, setting a table or helping to fold some laundry. Parents need to see that their kids know they are responsible for doing those chores, or they get no allowance. As the children grow and expect to get a larger allowance, they must be made aware that the number or difficulty of the chores will also increase. In addition to learning the value of money, it prepares them to take care of themselves if they go away to college or go out on their own.
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We have never used this "allowance" system in our family. We were taught, and we taught our child, to evaluate the purchase. If it was good for us and worthwhile, then go get it. If it was a high-priced item or if we were not sure, then of course ask.
To us, Allowance sounded like a payment. For being our child? Everyone in a family shares what the family has. Parents don't parcel out money any more than they ration out food. Nor use that as a weapon for control.
Allowance does serve a purpose--to teach the child how to manage the use of money. Learn lessons in book-keeping, planning, etc. Which will be useful later in life. What we tried to do was to de-emphasize the focus on money as the end. When something is hard to get, people tend to lust after it--whether it is fashion, iPod, tickets, jewelry or money. And life becomes the neglected orphan.
To us, Allowance sounded like a payment. For being our child? Everyone in a family shares what the family has. Parents don't parcel out money any more than they ration out food. Nor use that as a weapon for control.
Allowance does serve a purpose--to teach the child how to manage the use of money. Learn lessons in book-keeping, planning, etc. Which will be useful later in life. What we tried to do was to de-emphasize the focus on money as the end. When something is hard to get, people tend to lust after it--whether it is fashion, iPod, tickets, jewelry or money. And life becomes the neglected orphan.
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