Imogen got a $3 raise in her allowance. \u00a0Allison needs to prove that she can feed the cat and clean her room without being reminded and then she, too, will get a raise in her allowance. \u00a0Matthew got an allowance for the first time.<\/p>\n
I couldn’t be giddier.<\/p>\n
Getting money into the hands of kids on a regular basis is the best way to teach them how to manage their money. \u00a0An allowance, because it’s consistent, does this. And when I get that message across to kids and then their parents, it makes me feel like there are that many more kids who will be ready to take on the financial challenges that await them.<\/p>\n
It starts with a conversation. \u00a0But unlike parents talking to their kids about allowance, because my class is made up of kids, I have to get the kids to talk to their parents. \u00a0Role playing is a fun way to practice. \u00a0And if props are involved, it’s even more fun.<\/p>\n
We come up with a list of reasons why having an allowance is important and what responsibilities the kids will take on as a result. \u00a0Allison used the argument that she needed to practice money management and therefore was willing to pay for all her rabbit’s supplies in addition to buying her own Webkinz. \u00a0Her current allowance wasn’t going to be enough to cover all her expenses. \u00a0Her mom agreed.<\/p>\n
All Imogen needed to say was that she wouldn’t bother her mom for money any more. \u00a0Done. \u00a0(Her mom’s going to find out she should have done this years ago!)<\/p>\n
And now Matthew is getting money in his hands on a regular basis for the first time. \u00a0He’s excited about showing he’s responsible enough to make good decisions.<\/p>\n