Allowance

An Allowance is not good or bad. There is no right or wrong decision as far as giving or not giving an Allowance. All you need to do is find what works for you.

I don’t believe in giving an Allowance. Money is not to be expected. It is something to be earned. I believe in entrepreneurial skills and creative thinking over an Allowance. I believe in fostering financial independence by helping your child find kid-friendly, creative ways to make money.

If you want to give your child an Allowance, then you should do so. No one has the right to tell you what you can and cannot do. As Bill Cosby once said his father told him “I brought you into this world, and I can take you out.” We parents are powerful. ;o)

An Allowance, in my opinion, should be spent for things needed, not for things wanted. There’s a big difference.

Our children always want something! Not a day goes by without a parent hearing the words “I want this or I want that.” Imagine if we gave them everything they wanted! We would have a lot of spoiled children and we don’t want that, do we? ;o)

Children need to learn the difference between wanting something and needing something. They certainly do not have to have another toy or more ice cream. Oh, they may want it. I’m sure they want it very, very much. But is another toy or more ice cream needed?

Children need to learn that they need warm coats to wear, gloves for their hands, hats for their heads and shoes for their feet. Money needs to be spent on items that are necessary to make our lives lived in healthy and safe ways. Having another toy or eating more ice cream may seem important to your child; it’s not.
Children need to learn the difference between what a necessity is and what a want is.

You can do that with an Allowance. All you have to do is give an Allowance with a rule that it only be used for items of necessity. If your children want an item – they really don’t need that item – they can earn the money to buy it. An Allowance given “just because” promotes a feeling of entitlement. We don’t want to teach our children that either, do we? ;o)

The subject to give or not to give an Allowance is a hot one. I’ve thought about this subject and spoken to many experts. Here is my FREE ebook “Allowance Secrets: To Give or Not To Give” where the top 25 “kids and money” experts, family coaches, and highly successful entrepreneurs share their personal opinions and tips on whether or not to give your children an allowance.

You want your children to grow up secure with their money. They need money to practise with so that they learn how to manage their money. So, give your child an Allowance, but give him or her a small one. Make sure you tie in your golden rule (only spend it on things that are necessary).

Here’s to empowering our children with or without an Allowance to manage their money in healthy and wise ways.



Cheers … Amanda van der Gulik … Excited Life Enthusiast! ;o)