Allowance Contract with Responsibilities

As your children start to grow up, you are probably trying to find different ways to help them learn how to manage their money and how to properly spend it as well. Your children can start earning their money by doing many different things around the house. For example, you can buy a chart where you can write each of your child’s name and assign them a specific chores throughout the week. Once they have completed those chores throughout the week, you can give them some sort of allowance at the end of the week. It is very important that after you give the money, you are explaining to them the importance of saving and how to properly spend the money as well. This is something that they need to learn how to do so that they can use these skills later on when they are adults. It is also recommended that you leave a list of these rules and expectations that you have for them somewhere in the house where they are able to access them in case they forget. Keeping your children accountable at a young age can make a huge difference.