We are fast approaching the end of school for many kids! I saw today that although there is May snow, the summer break in Colorado begins at the end of next week. Here in Seattle the sun is out for the first time in several months and we are promised a jag of 70plus degree days! It’s a great time for kids to set habits that can sustain down days in the summer and build up creative ideas for days that need plenty of action!
Yesterday a dad came in and decided it was the perfect time to get his 6 year old going with financial literacy education. He told me that the three part teaching bank was perfect because his son, who does not get allowance yet, gets single minded about money. I have talked about this with a lot of parents, when a child is excited about giving it is important for them to see that it is a choice in the same way when a child wants to spend it is important to recognize what spending does to the other categories!
So summer might be a perfect time to start an allowance and to tie it to goals around Save Spend and Share. By the time we are in full summer swing the short term goals might be starting to be realized and the moneyboxes will be getting full of dreams.
Allowance is different for every family. The one thing that remains true no matter how allowance is doled out is that the opportunity allowance offers kids to manage money is incredibly valuable!
A Moonjar allowance kit is the start of something great and a good way to introduce money management for kids.