balickgoodmanfamily

i grew up in a family where i experienced a healthy attitude towards
money. in reflection, i think the key is that my parents helped me to
get what i wanted AND they gave me money and flexibility to experiment
with spending and saving money from a fairly young age.

in our family, i continue to use these principles of learning about
money in a healthy way. my kids get an allowance. it is not tied to
chores. last year, i realized i wasn't giving the kids enough to buy
what they needed so i gave them more money this year.

i don't tend to keep a hard line of what we'll pay for vs. what they
need to purchase. i err on the side of buying them things because
it'll give the kids joy and pleasure. all of us in the family think
about our purchases and discuss them together. when we've had a lot
of expenses, we talk as a family and we all become thrifty.

last summer, we bought a car. both my kids insisted on giving me
money because they knew how much we'd saved for it. they are 5 & 7
and they each contributed a dollar. they both said that we always
helped them to get what we wanted and they wanted to help us. i can't
put into words why, but i think that giving kids money for doing
chores, may take away from this type of dynamic.

-lyssa