Teaching kids about money, means teaching them all the things that money can do! It can be spent, saved, invested or given to good causes. By having an allowance system that incorporates all of these aspects, kids get to experience them first hand, and build well-rounded money habits (you know, more than just taking the money and blowing it every week).
Looking for a little inspiration on how to use each of these pockets?
Wait - did we just say investing? ...For kids?
Absolutely! Not all money is for use right away - some of our money needs to be put away for the long game. This pocket, more than any other, will build habits that will empower kids to be financially successful in the future!
My son refers to this as his "money to buy my first house when I'm a grown up"
It's money that doesn't get used up - money that we use to make more money. (and kids that learn to use their own money to make money, are less likely to become adults that ask their parents for a loan. Think about it...)
Let's talk Cash - seriously, who uses cash these days?
Answer: We do! Our kids are growing up in a world of swipes and taps - no wonder they don't understand why they can't just buy everything they want!
Using cash in your allowance allows kids to see it, touch it, count it! (don't we all remember the excitement counting our nickels and dimes as kids?)
Worried you'll never get around to keeping up with having cash around? Check out how we can help...
Give yourself a ticket to print money...literally!
When you buy a 4
Pocket Allowance, we'll send you printable PDF "allownace bucks" to use as an alternate to real cash. It can still be counted by kids. (although we don't recommend trying to use at the store)
Never be caught off guard
OK, it's true that kids will be happy to remind you.
But stay one step ahead by setting up a calendar reminder either on allowance day or a day early, to remind you to get organized.
Set up a Reserve of small bills,
so you're all ready with "exact change" on allowance day".
(hint: we've included a bonus reserve pocket in the 4 Pocket Allowance just for this!)
When it comes to GIVING,
We Walk the Walk
Monkey see, monkey do!
The best way to show our kids the importance of giving, is to model it ourselves.
For every 4 Pocket Allowance sold in 2019, we'll donate $1 to:
They're a fantastic organization that we have witnessed first hand in action!
Ready to get started.....
Wondering where to start?
Sign up to get a FREE copy of our Smart Parent's Guide to Launching an Allowance . We've packed it full of tips and tricks to teach your kids, while maintaining (and dare I say improving) your sanity.
Ok, setting up an allowance isn't rocket science. But there are always little hints to make things go more smoothly. Our free guide helps your figure out how much, how to divide the money, hosting a family meeting to introduce your allowance, and more.
Get the Ultimate Toolkit for Teaching Your Kids Financial Literacy….and a little Responsibility too!
Mission "raising kids that we can launch into the real world" is on!
Inside the toolkit, you'll receive 3 FREE resources: (1) The Parent's Choose Your Own Money Adventure (2) The Money Concept Flashcards (3) My Super Savings Planner
PS: we totally respect your privacy - no spam here!
While you're here...
...take a look around, make yourself at home. We have lots of great resources for teaching kids about money. One great place to start is right here with our blog!