Money-Management Strategies for Kids and Teens
PUTTING IT INTO PRACTICE:
Step 1: Explain that gifts and lottery windfalls aside, you’re not going to get money in your pocket without performing some kind of skill or task first. Assign each child an age-appropriate chore or chores to tackle each week, and establish a monetary value for a job well done.
Step 2: Follow through. If chores aren’t performed, allowance won’t be paid. It’s that simple.