Teaching my kids about the value of a dollar is very important to me. I do not want my children to think that money just grows on trees, nor do I want them to think that they can get whatever they want without having to work for it a bit. I was raised knowing that if you helped out and did good things for others, then good things would come to you. We received an allowance, and I have passed this on to my children. My boys love helping out for a weekly allowance!
We didn’t always have an allowance. I wasn’t really sure at what age I was going to start giving my children an allowance. We would occasionally take the boys with us to the store, and come out with a lot of unnecessary toys and games. The first time that I realized my boys were ready for an allowance was when we went for our usual trip to the store, my oldest son saw a video game that he really wanted, he looked at me and said, “Can I get this Mom?” I looked at the price tag, $89 (I believe this was the price) and immediately told him no. He just couldn’t understand why he couldn’t have this $89 video game and thought I was being the meanest mom in the world (not that he said this, but I could tell.) After telling him he could not have this game he quickly finds another game and asks for it. The second game was priced at $59. When I told him that this was way too much money to be spending on a video game at the time he looked at me and said, “But Mom, it’s ONLY $59.” That my friends, is when I realized that my children really had no idea what the value of a dollar was. My husband and I quickly sat our children down and explained money to them. They have since been doing great with their weekly chores, allowance, and are purchasing their own games. They love that they can buy the games with their own money and it is way more rewarding for them.
The founder of Prosperity4Kids, INC, Lori Mackey, is on the forefront of youth financial literacy. Lori is the powerhouse behind a line of products that make learning about money fun for kids as well as educating parents on how to have these conversations with their children.
We happily reviewed the Allowance Chart that Lori has created. This chart has been great for our family and makes things fun for the kids, but keeps things organized for both myself and my husband! The allowance chart shows 7 days with plenty of space to write morning and afternoon chores with a wet erase pen (which was included with the chart.) There is also a Goals, Dreams and Desires page so children can plan and work towards special items they want to purchase. The allowance charts are available for only $15.99 and are worth every penny in my opinion!
To purchase your Allowance Chart or one of the other great financial literacy products for your children visit www.prosperity4kids.com.
(We received a free allowance chart for review. We were not compensation for this post and these are our honest opinions of products that we reviewed. We only share honest opinions when reviewing products. Thanks!)
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