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.