Today’s Parenting Tip:
Decide: Kids need to learn about money in order to appreciate it.
Practice: Today, begin a money management plan for your child. Set some rules about what happens to money that the child receives for gifts. Decide how each gift of money will be used. How much will be for:
* Free spending. Decide who will have approval of what this is used for? If you will have final approval, decide only on the basis of safety or morals, not the wisdom or maturity of the child’s choices.)
* Savings for needs. For example, a college fund.
* Savings for wants. For example, a new bike or computer game.
* Charity. Consider letting this be a charity of the child’s choice.
Today’s Parenting Tip was inspired by the idea of being thankful.
Come back each day for another good parenting decision and how to practice it. (Each day’s activity will also be posted on the Daily Parenting Tips page for easy access.)
The Holiday Season is upon us. Looking for a clever gift idea? See Holiday Gift Ideas Revisited.