HOW TO GIVE MONEY TO YOUR KIDS WITHOUT GIVING THEM ALLOWANCES

Do you give your kids allowances?

Here we explain why we don’t like to give allowances and what we do instead

We are not fans of giving kids allowances because giving them money just because it is something that won’t help them build any kind of discipline, responsibility or commitment. Instead, it encourages them to feel entitled to get money without making any effort. And we don’t want that for our kids, right? 

We want to teach them the meaning of work and responsibility. And it’s something that personally worries us because we have the luxury to live in a country where everything seems to be easy to obtain, and even though we don’t want our daughter to have the same struggles we had in our native countries, we don’t want her to get used to a privileged life.

So if you are like us, here is something I, Kate, personally learned from my parents and with Val decided to do the same with our daughter. 

GIVE YOUR KIDS A JOB!

So here is how my parents did it with my siblings and me:

We had to offer a service that would benefit the whole family, so I was in charge of cleaning the washroom, my brother was preparing our uniforms for school, and my sister was washing dishes… and we were getting paid for our services.    

 

But here is the trick whatever jobs they do... NEED to benefit the other members of the family

So cleaning their own room, or picking up the toys after playing are not jobs, these are personal responsibility. So make sure you explain to your kids what personal responsibilities you expect them to do, and what will be the consequences if they don’t do it. 

But don’t mix tomatoes with milk! It won’t taste good.

What I mean is if your kid doesn’t do the job you don’t pay her, period. But don’t try to punish her with anything else, like taking toys away or no screen time, etc. If she doesn’t clean her bedroom, in this case, you can take the tablet or the toys away, but you don’t involve the money she is getting for the other job she is doing.  

This way, if you keep things separate, your kids will understand the difference between personal responsibilities and work responsibilities and each has its own consequences.   

I hope this blog was useful and if you want to continue helping your kids and teach them about decision making, responsibilities and consequences… we have a free PDF that shows you step by step how to create the habit of decision making in your little kids. So click below to download your PDF.   

Keep crashing your money goals, and we will see you next time!

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