Given the issues in my first marriage with money (and my ex’s continuing issues managing his), I’ve been trying teach my children how to manage money with an allowance. We’ve come across some obstacles. Hubs and I have struggled with getting the children to understand that a bank card isn’t a source of a magical stream of money – there’s a lot of hard work that goes on to get it.
We tried an allowance – but it fell apart after a while. We went back to the drawing board – and came up with a whole new plan. Today, I’m at Sammiches and Psych Meds talking about our new approach to allowance. Tell me in the comments below – what does your family do when it comes to allowance? Do your children think you’re a walking ATM?
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My kids used to think that—brats. I gave them chores and they earned allowance but I still ran into problems. It’s a life long lesson we teach them and they learn on their own. Great topic, Liv. I’ll pop over and read your post 🙂