Ask Crystal: Do you give your kids a grant?

Admin April 3, 2025

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Ask Crystal: Do you give your kids a grant?

Every Thursday in 2025, I will be answering the question about money and / or budget. If you have a question for me to respond to the next post, please bring here.

Do you give your children the money allowed before they are old enough to get a job in their youthful years? How do you teach your children to give / spend / keep them? -Charlotte from England

Hi, Charlotte! I love you that you think the aim of how to guide your children from money laundering even before they are old enough to get a job. This is a real important thing in our family, too.

As parents, one of our big hopes to prepare our children with skills that will work well for all their life. And one of the most important life skills we can give? How to Manage Money Well.

That’s why, yes, we give our children money forward They were adequately running for traditional jobs. But instead of a regular allowance, we use a chore-based program that helps them to teach both of you and how to spend money properly.

Let me break up with you …

Our Chore & Money System Program: Home Personal VS

When three older ones are small, we build a Tier Tier program in our home: Unpaid jobs including Functions paid.

Unpaid jobs Daily activities come and become part of our family team – things like keeping your room clean, helping cleaning, or closing. This is expected and not paid.
Functions paid There are more opportunities for our children to choose when their unpaid jobs are made. This may include scratching the vehicle, organizing a garment, or cleaning our bathroom.

We have chosen this program because we wanted Renewing action and doingnot the right. Our children know that money does not arrive free – hard work, such as in real world.

Why do we pay our children for household chores

Here are four major reasons we have decided to pay our children by doing household chores:

1. To encourage solid behavior of work

I am so happy with good behavior my parents put me up to me – and I want to succeed in that same gift in my children. When our children take the initiative to pay homework and earn money, they read that effort brings rewards. They also learned to stick with work until it was done well – an important lesson that passes across the domestic work.

2. Teaching the Reality Languages

From the time our children around three or four, we begin to provide little possibilities to find and manage money. Whether it brings their own money to a shop or make decisions to save, they learn real financial abilities to serve them for years.

When we go out, they can bring their money money and use even if they like (during a reason!). This helps them learn important skills management and prevention skills type of meat The attitude that can come as soon as we buy. If the baby sees something they want and ask me if we can buy it, my answer lasts always, “What have you brought your money?”

We have many wonderful study periods from simple situations – they are like forgetting their money and can buy something, or when they give their billion costs to cashier and change them. This little experiences add a big financial confidence in time.

3. Allowing to make some $ 3 errors

Allowing our children to make money small money now – like spending all their money with a cheaper ahead a two-day tire – helps them cultivate sensitive thinking and understanding. I would like to learn about $ 3 error today is a $ 3,000 error for the twenty decades.

We don’t treat money in their own way. When they ask for the input, we will give it. But often, we come back and let them find you. It opens such major conversations about making decisions, importance, and self-esteem.

4. Promote Giving

We talk a lot about giving at home. Our children set aside for a portion of what they need to provide – even in Christmas children, goats and poultry from the oceans, or clean water projects. Viewing their hearts growing in the broox was one of the best parts of this journey.

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How We teach our children to give, to spend and save

When they started earning, we encourage our children to divide their money in three main stages:

Give: We encourage our children to set aside part of their money to give a local church and cause interest.
Save: We encourage them to set savings goals – sometimes with a great deal, sometimes to build this practice.
Issue: This is their sweet money – they find deciding how they use them (within a reason!).

In time, they began to see the number of each category. They feel happiness to give, power to save, once freedom of discretion wisely. It’s a reward that you have to look!

With additional encouragement, read this post in 4 ways to educate your children children’s financial management.

Don’t just tell them – show them

One of the big keys in all of this model. Our children are helped we are about the budget, maintain, pay money, and choose to be satisfied. They see us waiting for purchase, compare prices, and sometimes they say no when something is not good enough.

I usually say: More is held than instruction.

We can speak with money all day, but if our lives don’t show our words, they will not stick. So we are invite them in the process – explaining that “why” after our financial decisions and give them a front seat on what it looks using for the purpose.

Talk to them about how you set up your budget. Showed you working for you. Bring them when you go to the bank. Describe why you have chosen not to use credit cards or why pay in cash or why you buy used cars.

With the added encouragement, read my posts in 6 Thanks, my grandfather taught me financing.

The last few instations

If you just start, here are a few things to encourage you to try:

Set a good example. Let your children see your financial goals.
Talk freely about money. They have brought to the relevant conversations for years.
Help them set a simple budget. You can use cash envelopes, a spreadsheet, or an app like the budget.
Give them the opportunity to study. Let them make mistakes – that is part of the process!

Providing children’s management expectations before they are old enough that the work is not just dollars and cents, discipline, giving, and stoppinging the health of decisions.

I would like to hear how this looks at your home – any prospective ideas work (or didn’t!). Being parent is a journey, and we all read as we walk.