Why It’s Important to Pay Allowance on Time

An allowance is a great way to teach kids the concept of money. Kids enjoy making their own money and feeling like they are a part of the family. With each chore that gets assigned your kid feels proud that they are finishing a task and going to be paid for that task completion. Paying an allowance helps to build confidence, responsibility and financial education for your kids. Sometimes the budget can get tight and we neglect to pay our kids their allowance on time, which is not a good practice to get into. Here are a few reasons why it’s important to pay allowance to your kids on time.

10 Benefits of Giving Kids an Allowance

The discussion of whether or not you will give your kids an allowance is an important one.

This debate happens quite frequently on Facebook where you will see parents that feel no allowance is necessary and others feel giving an allowance for larger chores makes sense.

There is no right answer for all households, but if you are one of those households that is debating giving your kids an allowance,  read on to learn the benefits of giving kids an allowance.

Best Home Apps to Make Your Life a Snap!

There is an app for virtually everything today, including improving your home life! There are many apps designed with the intention to help you at home. However, most end up being either distractions or unused, and just take up space on your device.

With so many to choose from, it can be difficult to decide which are worth downloading. Here are some cutting-edge home apps that outshine their competitors.

Educating your Kids on Advertising

Both online and in person marketplaces are full of advertising. Most kids notice this advertising but don’t think of the bigger picture and how it affects them.

Advertising can encourage the purchase of both necessary as well as unnecessary and potentially unhealthy products. From the day your kids are born to the day they leave this Earth, advertising will be a predominant part of their life.

Since kids are especially susceptible to these messages, which will stay with them throughout their lives, it’s important to educate your kids on how advertising works.

Let’s Settle the Allowance Debate Once and For All

Allowance has been a topic of debate for years. Some parents feel that by giving a child money for their work, they will learn to value things. However, the concept of working hard isn’t always about the reward. It’s imperative to make sure you’re teaching your child the valuable lesson of working hard.

If you are a parent who feels obligated to pay your child for doing his/her chores, you might want to reconsider your actions. Your child has to learn that not everything we do comes with a reward and that our motivation for doing things should originate from a deeper place.

Strategies to Help your Kids Become More Responsible

The first thing every parent seems to do is blame themselves for behavioural issues that arise with their kids. While every parent has one mission and one mission only, to raise their kids to be well rounded, good mannered, intelligent adults, there’s still a piece that parents overlook. No matter how much you work to teach your kids, they still have that little element of personal choice. Kids can be taught to be more responsible but it will take them a few mishaps to learn how to truly be accountable for their actions. Today we want to discuss a few strategies to help your kids become more responsible, this alleviates the parents feeling as if they failed and helps guide the kids forward to being responsible, well-rounded adults.

Money Goals for Kids

While kids are quick to understand short term money goals, teaching them to set mid and long term financial goals may not be that easy. If you work to follow all of the suggestions we have shared here, then perhaps the financial goal teaching side of parenthood will be easier for you and your kids.

Children need to learn how to set money goals because they will become an adult at some point and it is smart that they learn to to start planning for their financial future now.

Here are some tips on how you can help your kids create their own money goals without much stress.

How to Explain Credit Cards to Kids

There’s much discussion about teaching kids to be financially responsible but what about credit responsibility?

There comes a time in every parent’s life when they have to explain credit cards to kids. While this may seem like something you don’t really desire to explain, it’s necessary.

Credit matters more than just the plastic cards you carry in your wallet or purse. It’s time to start explaining credit cards to kids so that they know the true impact of using such a plastic item.

Important Banking Words Parents Must Teach their Kids

One subject that can impact your kids’ life well into adulthood is financial education. Most school systems don’t teach any financial skills, but parents should.

You can start by teaching your kids banking words so that they grow up to have a well-developed education in finance and understanding of what is going on with their money.  You can practice them with your kids by having a relaxed conversation with your kids when they accompany you to the bank.

Here are some basic banking words that are often used in everyday life, so your kids should soon get a chance to hear them or even use them.