Money Mondays, Allowance

The word Allowance can mustard up an argument from anyone. Allowances can be earned or voluntarily given. It can be a set dollar amount or even a percentage of work completed. Who receives allowances?

  • Children
  • Stay-at-home parents
  • Working parents
  • Teenagers
  • Budgeting families
I want to focus on the benefits on allowances on this argument versus how to earn an allowance. Now that the Holidays are approaching many gifts have to be purchased for best friends, teachers to new crushes. If your children and teenagers receive an allowance why not impart the importance of them savings for that holiday gift? Some parents really do not want to have to purchase $40 in gifts for their children's best friends or even their spouse's boss.
I was an allowance earner as a child. I had to keep my room clean, but the true money maker was sweeping the floors, raking leaves and washing dishes. I never really earned much, but I was so proud to spend my money on a holiday gift for my best friends and my dog. So give it a try. Be stern with the earners and let them know, this amount is all you have, so save and save wisely.

This has been a Money Monday tip!


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