Home > Kids > Values and Responsibilities > Money and Kids > Allowance and Your Preschooler
|

Allowance and Your Preschooler

Before the age of four or five, most children have little concept of money and its function. Older preschoolers begin to understand its usefulness—and may want some of their own.

Giving your four-year-old a small weekly allowance can provide a helpful introduction to the idea of money management. Your preschooler does not need a lot of money, but that's not really the point.

If he has his own money, your child will begin to appreciate how much the things he wants cost. He will begin to make decisions as a consumer—whether to buy a candy bar or a coloring book. And if he wants something really badly, your child may even begin to save his money in anticipation of the future.

If you do decide to give your preschooler an allowance, try not to link it to doing his chores or helping around the house. Allowance, especially for preschoolers, is pocket money—nice to have but totally unnecessary. An allowance is not a payment for doing his chores. He should be encouraged and expected to help around the house not because he gets paid for it, but because he's a contributing member of the family.

More on: Preschool

|

Excerpted from The Complete Idiot's Guide to Parenting a Preschooler and Toddler, Too © 1997 by Keith M. Boyd, M.D., and Kevin Osborn. All rights reserved including the right of reproduction in whole or in part in any form. Used by arrangement with Alpha Books, a member of Penguin Group (USA) Inc.

To order this book visit Amazon's web site or call 1-800-253-6476.


family games

Everything you need for family game night!


highlights

The Latest and Greatest Book for Kids
Search our interactive Book Finder for the top new books for kids of all ages, brought to you by the latest book in the I, Funny series, "I Totally Funniest."

Kindergarten Readiness App Wins Gold
Our Kindergarten Readiness app won the Gold Award of Excellence in the educational category at the 2014 Communicator Awards. This valuable checklist comes with games and activities to help your child practice the essential skills she needs for kindergarten. Download the Kindergarten Readiness app today!

Top 10 Wintertime Neighborhood Games
Who says you have to stay inside when the temperature drops? Snowy weather is a great excuse to round up your neighborhood for some outdoor winter fun and games.

2015 Family-Friendly Oscar Nominees
The Oscar nominations are in, and they include several family-friendly movies. See which flicks earned a nod for Best Animated Feature Film and other awards.

stay connected

Sign up for our free email newsletters and receive the latest advice and information on all things parenting.

Enter your email address to sign up or manage your account.

Facebook icon Twitter icon Follow Us on Pinterest

editor’s picks