Giving your child a reasonable allowance is a good way to help him or her learn to make choices.
Larry Beltramo, a Certified Financial Planner, says he and his wife give their 8-year-old daughter three dollars a week, purposely not enough to let her buy everything she wants.
"She has to think a bit before she spends it. She has to tell herself, 'If I don't buy this candy now, then next week I'll have enough to buy that hair barrette that I like.'"
This may also help children as they get older and encounter peers who seem to have limitless funds. If your children are used to living on a budget, they may be less influenced by someone whose lifestyle is so different.
Larry Beltramo, a Certified Financial Planner, says he and his wife give their 8-year-old daughter three dollars a week, purposely not enough to let her buy everything she wants.
"She has to think a bit before she spends it. She has to tell herself, 'If I don't buy this candy now, then next week I'll have enough to buy that hair barrette that I like.'"
This may also help children as they get older and encounter peers who seem to have limitless funds. If your children are used to living on a budget, they may be less influenced by someone whose lifestyle is so different.
No comments:
Post a Comment