It’s never too early to start teaching your children about money. A great way to begin this is by giving them an allowance. There are several ways to do this, and I’ll talk about a few of them.
You can give allowance based on chores with specific money amounts. For example, you can decide to pay fifty cents for setting the dinner table, $1.00 for keeping their bedroom clean all week. You decide the chores you would like your child to do, and then show them how to do the work correctly. Let them know ahead of time how much they get for each job, and keep track. Decide how often they will receive the money they have earned.
