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Allowance

An Allowance can be a great way to give your kids hands-on experience and practice for good money habits.

  • Best to start around school-age (5-6), when kids are understanding money and values.
  • Choose an amount that works for your family budget
  • With younger kids, start by giving them an allowance each week. With older kids, you can go to once a month to give them more practice with managing their money.
  • Be consistent. Pay them the right amount, on time.
  • Decide if your allowance system will be attached to chores or not, and develop a way to track them. (iallowance app, chart system, etc.)
  • Use small bills when giving out allowance, so your kids can put some into each of their share, save, and spend smart jars.

 

Sample Allowance Chart

Sunday

Monday

Tuesday

Wednesday

Thursday

Friday

Saturday

 

 

 

 

 

 

Paid: $3.00

 

 

 

 

 

 

Paid:

$3.00