Thinking about giving an allowance

Financial skills to explore

  • Differentiating paid work from free help
  • Saving on an ongoing basis

For children ages 8 to 9

Activity summary

Is offering an allowance as compensation for a chore the best way to teach your children about the value of money? Allowances have many advantages and drawbacks that should be taken into account. How much, why, when and how?

After this activity, you'll be able to answer these questions and make the best decision for your family, especially for your children.