ALL ABOUT MONEY

Can you learn about money management by feeding a dog? Some families give money to their kids when they finish everything they have to do at home. Children learn how to control their money early in life.

Maxwell, Tucker, and Gabe Parrish are brothers. They get allowances when they do chores around the house. Maxwell, 10, earns $10 per week; Tucker, 8, earns $5, and Gabe, 7 earns $3. Other kids get allowances only for doing extra chores. A weekly allowance helps kids learn about money. They learn that they need to work to earn money. It is a very important lesson for kids.

Some other parents think that it is not right to pay for chores. They think that washing the dishes or making the beds are family responsibilities.

Some kids don’t get an allowance from their parents. They work to earn money. They get jobs. Many companies don’t hire people younger than 16, but there are other jobs for younger kids. Some choose to babysit or clean their neighbours’ gardens. They earn money by the hour. This helps them when they grow up.

Children earn money in different ways. Some parents also teach their kids how to manage money. They play games that focus on money.

“We go to the bank together,” Julie Parrish said. She is Maxwell, Tucker, and Gabe‘s mother. She withdraws cash from the bank and pays the boys. Boys leave some of their money at the bank and keep the rest. Boys also learn that it is important to save money.