Monday, December 6, 2010

Help Your Children Track Their Money With Allowance Manager

I am trying to teach Noah about money. I thought that now that he is four years old, he should start getting an allowance. I think it is important to teach him about saving and spending even at his age. I am hoping to prevent him from going out and wasting all his money on something silly when he gets a little older. Right now his allowance goes in his piggy bank and it is saved. Today is St. Nicolas Day and he woke up to find 4 shiny quarters in his shoes along with a treat. It is my job to teach him that he has to earn the things he wants and that money is something that isn’t just handed to him at his command. Thanks to my sister and brother in law they taught Noah how to hold up a cup and say to strangers “please can I have some money?” He even said it to a police officer who thought it was hilarious. I hid my face in shame. Now he kind of has the mentality that mommy will give him money whenever he asks, not happening.

I came across a website called Allowance Manager. It is a great way for children to keep track of their spending and how much money your child has. Just think, your child doesn’t have to count the change in their piggy bank anymore. All you have to do is create a free parent account and then you can create an account for each of your children each of them will have their own password. It is really easy to sign up. I personally hate long sign up processes. It takes like 2 minutes to completely set up the whole thing. One of the features I really like is the printable chore chart that we will be using for Noah to start doing chores like picking up his toys, cleaning up his dishes after meals and picking up his trash during the day. Your children can’t update any of the parent settings so it is secure and it remains accurate. You can easily reward your child for good behavior by adding extra money and even penalize for bad behavior by subtracting money from their account. It will also serve as a reminder or as evidence as to why their allowance is a few dollars less. It also teaches them the basics of banking if your child is a little older.

I am still thinking about how much money to give Noah for an allowance. How much do you give your child or children and how old are they?

For more information please visit Allowance Manger.

I received a gift card for my review of this website. All thoughts and opinions are my own.

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