Using creative allowance alternatives to teach kids about money management is a valuable tool that will lay the foundation for budgeting, financial planning, and saving.
Working for their allowance isn’t to test their abilities to get everything done but to encourage them to be helpful and do more than the bare minimum.
If you homeschool your children, you could offer them an extra bit of money for reading books and their curriculum requirements that will benefit their future.
Teach Kids To Earn Money Through Academic Accomplishments
You could offer them $5-10 for every nonfiction, finance, business, trade skill, or personal development book they read in addition to their school curriculum requirements.
Teach Kids To Earn Money Through Business Ventures
Working with you shows them valuable lessons not available anywhere else and enables them to kinetically learn business tasks instead of just reading about them in books.
Your encouragement will help increase their confidence, but you’ll also assist them with developing critical thinking and strategy skills not taught anywhere else.