004 How She Teaches Kids About Money
Learning how to manage money wisely is one of those lessons that has to be learned from experience, and watching our kids make money mistakes can be painful. This episode discusses brilliant examples of how moms are teaching their kids about money, from establishing family economic systems to setting up bank accounts, to having kids help manage family finances.
Here are some links to additional resources on howshemoms.com:
The Great Allowance Debate — A cheesy mock debate between a commission-based system of paying children, an allowance-based system, and no system at all.
Brataphobia — Afraid of raising spoiled brats? Here are twelve antidotes to the entitlement epidemic, from four great books.
How Lisa Teaches Her Kids About Money — Lisa pays her daughters a weekly allowance, independent of chores.
How Sarah Teaches Her Kids About Money — Beginning at age 9, Sarah's kids earn money for completing their daily chores, and buy most of what they need or want for themselves.