Teaching allowance responsibility to my children
Teaching my kids to manage their allowance and spending cash.
– We started with giving 50 cents for every year of their age.
– My kids are learning to manage their money and budget for 1 week, 2 weeks, and then 1 month.
– We plan family vacation activities together and save in a common family “jar”. (If money is found or personal money is left around the house, it goes into this jar.)
– We help our kids budget and shop for yearly school supplies.