Save, Share and Spend

By the time a child reaches the age of twenty, he's received an average of $33,000 in allowance. That's a lot of money! So use it as a tool to teach your children about saving, sharing and spending. First, have chores your children can do to earn the money. Next, have your kids save half of their allowance. Then help them develop a giving heart by setting aside money for church or charity.

Finally, let them spend a portion of their hard-earned money both on present wants, and earmark some for future wants. If you teach your children how to save-share-spend, you’ll be making a profound investment in their future family.

For more on teaching your children about money, click here!