How we handle allowance, part two
All the details
On the surface, an allowance is about teaching kids to handle money. That’s really important (really important!), but if the learning stopped there, I’m not sure I’d have felt so passionately about getting the details just right. Instead, more than just money management, we hope earning and spending an allowance will be a way to pass on virtues like patience, wisdom, generosity, and honesty — as well as the executive functioning skills that, for many people, provide structure for a meaningful and productive life.
Building up our kids in character and sound money management? Yep, that’s worth some trial and error. Hopefully this week’s newsletter will give you a head start, but if you need the same reminder I did, here it is: it’s unlikely you’ll cause lifelong damage or calcify a behavior by jumping in and having a go. You can change your mind, you can try new things, you can adjust and tweak along the way. As always, start small and build from there!
How did you get started?
We dove in last year with June, our oldest, when she entered second grade. I created a simple job chart and had it laminated at Office Depot, and we explained how the system would work at our back-to-school dinner. She was excited!