7 Things You Should Stop Paying for Once Your Kids Have an Allowance
When your kids get an allowance they should also be given the responsibility to pay for more things on their own.
Two years ago, I decided our family needed a change.
Every time we walked into a store, my girls — and especially the youngest — would begin asking for anything and everything in sight:
“Mom, can we get this Frozen indoor bowling set ?” Me: “No.”
Next aisle: “How about this glow-in-the-dark silly putty?” Me: “No” (thinking back to the glitter orange putty that stuck to our living room carpet)
And then in the checkout lane: “What about this?”, holding up a mini Magic 8 ball. Me: “I don’t think so — and do you even know what that is?”
You get the picture.
While I have no problem saying “No” to my kids when they asked for cheap plastic toys, not all of their requests were unreasonable. Craft supplies, building toys, and books are things I welcome into the house. But at the same time, I loathe having my kids think of me as a bank account they can withdraw from indefinitely and I wanted the constant pleas to stop.
So I set up an allowance: 50 cents for every year they are old.
I figured giving my kids an allowance would put the burden on them to decide if something was really worth purchasing and also teach them how to manage and budget money. I also made it clear that they were now responsible for buying both the things that they want and some of the things they need.
Toy buying is the most obvious expense parents can hand over to their kids once they are given an allowance, but there are a number of other things parents can stop paying for once kids have their own cash.
Things You Should Stop Paying for Once Your Kids Have an Allowance:
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Originally published at kidsmoneylessons.com on January 14, 2016.