Pocket Money, Allowance to Kids - Good?

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Pocket Money, Allowance to Kids - Good?

Post by TruthSeeker on Tue Jun 30, 2015 8:48 pm

I never got any, growing up.

The rule was - request for what you want, but no direct money.

I started a Rewards program at home a few years ago, wherein I specified a certain "reward" for each action the child takes. For example - 10c for brushing, 20c for eating a vegetable/fruit, 10c/page of writing/reading, 25c/day for any exercize and so on. My idea was to convey, and inculcate what the parents consider important. To reward more on things that a child is not careful about.

When I told about this to my mom on phone a few years ago, she seemed not to approve. Saying - Do not reward with money.

So I had stopped.

But I started it again. There has to be some specific, well-defined reward, for each good action a child takes. I told them that I shall reward in cash, and they are free to use it anywhere they like after letting any parent know about it.

How does one teach Finance 101, Money management, to kids otherwise?

Thoughts?

TIA,
TS.

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Re: Pocket Money, Allowance to Kids - Good?

Post by Merlot Daruwala on Wed Jul 01, 2015 12:29 am

What 50+ year old goes crying to his mother seeking her approval of his parenting methods??

Merlot Daruwala

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Re: Pocket Money, Allowance to Kids - Good?

Post by TruthSeeker on Thu Jul 02, 2015 12:32 am

Please stay away. Go take out your frustrations somewhere else. 

And for your kind information, I am younger than you, baldie!

Go seek whatever on your own,
TS.

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Re: Pocket Money, Allowance to Kids - Good?

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