One of those family traditions that seems to survive no matter what is to regularly give kids money. Working out exactly in what form it should be given and earned, and how much should be given can be a challenge though.
Indeed, there are in fact a great number of ideas which can positively empower a family to give an allowance to children. Grandparents are generally seen as an easy touch regards given kids money; almost treating it as a rite and right. Whilst a wonderful gesture however, directly linking the gift with good behavior is always a good idea.
An allowance given from parents should really be handled in a different way however. Whilst irregular increases and bonuses could be given from time to time, the regular amount should be given directly for completing chores.
Nobody really likes being told what to do of course, and that is no more true than in kids. As such, talking to them about what tasks they would like to help with is a good idea. Obviously, there will be silly suggestions, but leading them to think about tasks related to things they enjoy is a good. Budding chefs for example can help prepare meals and, importantly, tidy the kitchen afterwards.
Other interests can of course be entertained. Perhaps a child has a love affair with the garden; here of course the chores speak for themselves. If a home has a family dog; walking, feeding and generally caring for its needs is another great task which most kids will enjoy.
Over time, chores can be increased of course; and more tiresome tasks introduced. From here, an introduction to weekend working is a natural progression. From teaching the value of money to helping explain the importance of financial management, giving kids money in a responsible way is far more than a simple reward.
Derrick Janson is an expert in Teaching Kids About Money. He has taught about kids money topics such as allowances, budgeting, saving money and making money for kids.