Back to School: A Great Time to Revisit Allowance Routines
Allowance: The Key to Financial Fitness
After the long, lazy days of summer, fall is a time to get back into a routine and kick up the productivity. (There’s nothing quite like the smell of sharpened pencils that makes you feel like you can conquer the world.😉)
What’s at the top of the BT Moms’ to-do? While kids get back into the swing of the school year and after-school activities, we take a few minutes to revisit practicing allowance in our homes.
Get Back To Basics with Allowance
But first, what’s the big deal with allowance? Allowance may be the most powerful tool for making kids financially fit.
As team players pitching in around the house and reaping the rewards of their hard work, kids gain independence, confidence and competence.
In making decisions on how to spend thoughtfully, carefully tracking weekly savings, or taking ownership of opportunities to give, children are also quietly building the money-smart habits that will endure far into their futures.
Most importantly, by making allowance a regular part of the family routine, parents are sparking a daily dialogue around money that is quite literally, priceless.
Are you convinced yet?
Refresh Allowance Routines
With the change of seasons, it’s a good time to revisit allowance-giving in any household. Should the responsibilities of your little earners change? While watering plants and weeding gardens might be part of the summer chores, perhaps kids are expected to pack their school snacks, hang up their coats and rake leaves in the fall. Extra special seasonal tasks like cleaning out the garage or changing over closets might even warrant extra special compensation!
And if you’ve agreed on increased responsibilities around the house, perhaps it’s time for an allowance bump. (Is there a better way to teach salary negotiations?! 😜)
So time to get started. A quick, open dialogue can help reboot the allowance routine in any family.
With the start of the new school year and a change in seasons, it might be time to revisit the ways you can help out around the house. What ways do you think you could be the best teammate to help keep our household running smoothly?
