you give your child a chores allowance? Giving your children money for
work that they have done around the home is one of the ways that many
parents do to begin the lessons about money that every child should
receive from their parents. It is a way to show your children how to
save their money and wait patiently to achieve their goals. There are
things that your child can do beyond this to provide for their own
future right now when they are young enough to learn the lessons of
sound financial planning.
Many parents hand over money to their children without any regard for
how that money is spent and the chances that it allows to teach
valuable lessons. Chores and allowance is not the perfect way we would
recommend to teach your children about money. To show your children
that money comes from effort and work you should encourage them to find
ways for them to make their own money. What they do with that money is
one of the most important decisions that they will make. Our e-book,
gives you many practical tips on how you can provide your children with
an economic education that will carry them through the rest of their
we will help you with every step of your child's economic education.
The lesson of connecting money to work is an important one, but it is
equally important to keep the lessons coming and show them what to do
with that money once they have earned it. Saving their money for those
special things that they want is another step in helping your children
develop a strong sense of the value of money. An allowance for chores
provides you children with the mentality that they should only ever
help out around the house in exchange for money. Not the best lesson.
There are investments that your child can make with the money they
earned on their own, rather than from a chores allowance that we can
show you how to guide your child in the right direction with their
money. Even if you don't understand investing, at www.TeachingChildrenAboutMoney.com
we can help you with the information that you will need to help your
children prepare for their future.
Don't you want your children to avoid all of the problems that poor
financial decisions will bring to their life? Of course, you will have
to do your part to make sure that your children have the necessary
tools to create their own success and
become financially independent in
their future. You have the ability to nurture the next generation of
millionaire. Your child can be taught about how to work smarter to
create great wealth in their future. It is never too soon to begin
teaching your children how to handle money in their life.