What about giving kids money?

I wish we had helped our kids learn how to manage money at an early age.  I took the boys clothes shopping before school started, and again when the winter came.  I was always a sucker for "I've got to have that sweatshirt" or whatever it was.  They didn't learn how to manage money until they went to college.

Giving kids a specific amount of money to spend on clothes, and allowing them to figure out what they can afford is a great way to help them learn budgeting.  When they have spent too much on that "really cool t-shirt" and don't have enough for new pants, it is important to show understanding without giving them more money to spend.  Another option is to give them money in the grocery store with a specific shopping list, and teaching them how to comparison shop.  It's a great math lesson, as well as an important skill for them to learn.  You may decide that children can earn money from selected special jobs, aside from their every day chores.

All of this will help prepare them for eventually living on their own, and being independent.

Positive Discipline of Western CT inspires and promotes the development of life skills and respectful relationships in families, schools, and businesses in our local communities. We provide classes to parents, caregivers, educators and youth development workers to help strengthen relationships with children, encouraging them to be responsible, resourceful and self-reliant.