Reply to Allowance and money for 6yo

Forum Index » Elementary School-Aged Kids

Reply to "Allowance and money for 6yo"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]Agree with others -- don't link allowance to chores. Have chores, but you don't have to bribe for them. They are just part of their routine -- making beds, helping with dinner, setting table, etc., are really not different from brushing teeth, taking showers, and other basic responsibilities.

We do require that DC set aside a portion of each allowance for saving and investing. Not just saving up for a toy they want, but it goes in an actual savings account and then periodically amounts get transferred into a brokerage account. We want to build up the idea that you need to be saving and investing a portion of all income for the future. DC will get to decide how to use that savings account and eventually will fully take over the brokerage account. We've talked about using some of the money for college, for study abroad, or for down payment on a house.

I actually think DC is more enthusiastic about this aspect of their allowance Than the money that gets spent on treats and toys. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics