3 BIG Don’ts When Giving Allowance

do-not-moneyParents, take a moment and think about a time when your kid bought something less than awesome (in your opinion). Perhaps it was a plastic junk toy or a ridiculous bow and arrow (and he already had one at home, remember?) or she bought an entire bag of candy instead of saving it like she said she would.No matter what it was, you had an opinion about it, right? Or perhaps, on the way out the door you thought, gee, if only she’d remember her wallet this time.

The question then is this:

Did you open your mouth? Did you grab the wallet for her? Did you loan the child money? If you did, that’s ok – it’s not like you did anything “wrong” – it’s a place to start. If you didn’t, then you know you made a conscious decision to let it run its course.

If you’ve ever had any type of mental, emotional or even physical reaction to your child’s choices with their money, it’s very important to remember this: When parents get involved they disrupt the learning process. In order to support your child’s growing independence remember the following three things:

  1.  DO NOT remind them to bring their money
  2.  DO NOT loan them any money and
  3. DO NOT lecture them on their purchases

So, I hope this just made your midweek a little easier! No need to lecture, buy crap you don’t feel like buying or nagging the kids! You can just keep it quiet and take it as it comes. That money is given freely to let the kiddos fail and figure it out.