Sure, why not! Giving your child an allowance will assist in teaching your child responsibility, how to save and budget their money. Its a good idea to consider starting an allowance for your child by the time they start first grade. By that time, your child will be able to learn more about money. Theyll need to start some time. The sooner the better! Here are some tips and suggestions on what you may want to consider when thinking about giving your child an allowance:
1) How much allowance should I give my child? Well, make sure the amount you give your child is affordable to you and fits within your budget. Consider giving your child a certain amount of money per week based on their grade level or age. Make sure the amount of the allowance that you give your child each week is realistic for your budget. Be comfortable with the allowance youre giving your child!
2) Set-up chores for your child which are age appropriate and chores that your child will be able to handle with ease.
3) Consider giving your child a weekly allowance on the same day of the week. It this is not realistic for your budget, consider giving the allowance to your child every two...
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