So there was an interesting question on the Life of Dad boards. What? You didn’t see it? You haven’t joined yet? What are you waiting for? 

Anyways, it was an interesting discussion that I wanted to bring here because I had it again in a face to face conversation with a friend.

Do you pay your kids? Do you give them an allowance? This isn’t a loaded question, nor is there any judgement attached. Keep in mind that every kid is different and that what works in one house may not work in another.

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Currently, we don’t give an allowance to our kiddos. Here’s what we do instead: there are particular chores that the kids are expected to help with – or do on their own. However, because they are kids, they usually have a list of toys or things that they want to purchase. We usually let them pick one thing. We explain how much that costs and then assign values to additional jobs, or chores, that they can do. We give them the ability to earn their item.

Again, this isn’t a rebuke on allowances. I know that in some houses the allowance is contingent upon completion of chores, or behavior charts. Kids still learn the value of saving money and the cost of purchasing items. I honestly think both practices are practical and provide opportunities for children to learn future financial skills and work ethic values.

There are probably a billion different ways to set up some sort of program for your children. So what I want to know now is how do you do it? At what age do you start to talk to your kids about money? What do you tell them? How do you teach them? I would love to hear your thoughts and ideas in the comments below (please keep it civil and don’t judge each other)- and if you use charts, can you share a picture?

Oh, and be a part of the conversation and join Lifeofdad.com today. It’s free and makes a great Father’s Day gift!

That’s it for now. Captain…out!