4 Tips on Giving Allowances to Your Child

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Terri attended a meeting of parents of grade school and high school students this past October. A common concern raised between the school and parents was the amount of money children carried to school. One parent narrated how her son lost $25.

This amount represented his weekly allowance. He could not remember where he left his wallet. All he was concerned about was the PC Game his classmate lent him. Never mind that he would starve for a whole week. To hell with money, this boy must have thought, so long as he had the PC Game he was dying to play.

The school advised the parents to limit the amount their children brought to school to $3 maximum on any given day. There was simply no need for them to be loaded with cash, especially kids at the lower grade levels.

The guidance counselor who helped facilitate the meeting went a step further and invited some parents to a private session.

Here are 4 tips on giving allowances to your child:

1. Allowances can be used to instill the positive values of hard work and thrift. Kids are naturally unaware of just how difficult it is to earn money, especially during this period of severe economic upheavals not just here in the Philippines, but all …

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