Allowance Alternatives to Teach Kids About Money

Providing an allowance to your child is a great way to teach responsibility, reliability, and financial literacy.

But giving your child extra pocket money regularly without having that money tied to a sense of accomplishment may cause unintended results.

Using creative allowance alternatives to teach kids about money is a valuable tool to lay the foundation for basic money management.

Here are 7 creative allowance alternatives to teach kids about money management and responsibility.

1.  Teach kids to earn money through hard work.  Paying your child for chores will help them learn responsibility.

2.  Teach kids to earn money by helping others.  Teaching young kids to help others is essential to develop them into a valued member of society.

3.  Teach kids to earn money through academic accomplishment.  A common way for parents to provide an allowance is for achieving good grades in school.

4.  Teach kids to earn money with reading rewards.  Providing a small cash reward when they finish a book is a creative allowance alternative.

Swipe up for more creative allowance alternatives to help teach your kids responsibility and financial literacy.