5 Mistakes to Avoid for a Successful Allowance System

Why You've Got to Listen to This Episode...

Allowance is one of the core ways parents can teach their kids about money. But it’s also one of the places where we can make mistakes if we’re not intentional. We know it’s not as simple as handing our child money every week or every month and walking away. So how do we avoid allowance mistakes and set up a successful and empowering system instead?

In today’s episode, I’m going to be covering 5 of the most common allowance mistakes parents make and how to turn each one into a positive action. By knowing what these mistakes are, you will be in a better position to help your child learn healthy money management that aligns with your family’s core money values. We’ll cover how to avoid making saving money feel like a punishment for your kids, how to let them make their own money mistakes, and how to decide whether or not they’ll receive an allowance as a result of completing chores.

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What Are Your Family Money Values?

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