Top 12 Money Mistakes Parents Make: The Word “Allowance”

We’ve been getting a lot of interesting comments and questions lately from parents, and we were feeling a bit snarky, so we decided to do something a bit different: for the next couple of weeks, we’re going to be posting a brief video every day where we talk about one of the Top 12 Mistakes Parents Make Teaching Kids About Money. The Word “Allowance” Really, we have no idea why parents (and certain authors) get …

Thinking Retirement at Age 16

Imagine twin brothers, Jimmy and Bobby.  They’re both turning 16 and getting their first part-time jobs working at Target one night a week, and one weekend day.  It’s a sweet deal: they’re working 12 hours a week, earning $8.43 per hour, which comes out to (after tax) about $72 per week.  Not bad for a couple of kids in high school.  So, $72 per week, is $288 per month, or $3,500 per year.  And this …

Teaching Teens About Money – The Easy Way

What’s the number one tool for teaching teens about money? We say it’s the allowance. But an allowance isn’t just handing kids a pile of money with no strings attached. It’s the portion or our family budget that we ALLOW our kids to spend. It’s money that we would have spent anyways, so it’s not costing us a dime. The way we use allowance, it becomes a delegation of responsibility from us to them – and …

Teaching Kids About Money: Entitlement – What We’re Reading Today

A survey of 1000 parents who were asked their biggest challenge right now in being a parent.  Over 60% responded, “My kid’s entitlement attitude.” How do we combat this entitlement attitude?  Parenting expert Richard Eyre weighs in with thoughts on allowance, chores, and Share Save Spend.