Taking it to the Piggy Bank
There is a lot of discourse as to when to start allowance with children. As an educator, I believe that as soon as a child is old enough to start asking for things at the store, they are old enough to earn an allowance and begin to lean about money management.
There are two different schools of thought on allowance. The first is that children earn a base amount that is handed over each week, on time, no questions asked. It says that you should not make allowance behavior based or use it as a reward or punishment. This school of thought suggests that in addition to the base allowance, each job or chore asked of the child has a price attached to it and this gets accumulated and paid out on a set schedule.
The other side believes that money earned by a child is based on the completion of daily household responsibilities and the maintaining of an appropriate attitude. Allowance is or is not paid out each week based on completion of set rules and responsibilities as denoted on a responsibility calendar. Read more