A Weekly Allowance: Why EVERYONE Needs One
When I was a kid, my folks gave me a weekly allowance. I had to make choices and save for what I really wanted. But when I turned 18, I decided that a weekly allowance was kid stuff and I didn't need it any longer. I was a grown up now and ready for what I thought was financial freedom. What a mistake! After years of constant financial troubles handling things the grown up way, I finally figured out weekly allowances aren't just for kids.
Here's what I NOW know about weekly allowances:
Why EVERYONE Needs a Weekly Allowance:
- Let's us know exactly how much money is going out.
- Breaks the mindless habit of using ATMs & Debit Cards.
- Makes us think long term instead of getting a quick fix.
- Teaches us and our kids how to manage money.
- For couples, it keeps both equal so that one is not spending more than the other.
- Makes budgeting so much easier and more accurate by not having to track the little purchases.
- Saves a lot of money.
- Helps us achieve our dreams.
Most of us are now in the process of learning how to manage money the hard way like I did. Don't waste anymore time! Get EVERYONE in your household on a weekly allowance.
For more information on our relationship with money, see the Money Issues section. Contact Vickie Champion if you would like a FREE coaching session.
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One Response to “A Weekly Allowance: Why EVERYONE Needs One”
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Dear Vickie, Good morning. I woke up a while ago, coffee cup in hand, and headed for the computer. Your allowance article is the first thing I’ve read this morning, and it made a ton of sense. What a great idea! I guess I never thought of it that way….I enjoyed the article so much I’m sending it to my kids. As young adults, they are learning how to budget, and for two of my kids, it’s not too hard. However, with the third one, and ironically, the one that makes the most money, he’s really struggling to learn how to wait for things. Thanks for the tips. Best regards, Karen Bruno