Suggestion from a Parent: “Tax” Your Child’s Money


Parenting Thought99-19
How one parent “taxes” her child’s money:

 

  • She made a rule that allowances, cash gifts, earnings, etc. are taxed. The tax collected is put away in a special account which can be used for special reasons that she and her child agree upon. For example for a special trip or outfit or piece of technology.
  • Some money gifts were allowed to be labeled “nontaxable” giving the child some bonus money. For example, grandma always wrote “nontaxable” on her checks.
What do you think? Good idea? Terrible idea? Let us know by making a comment at the bottom of this post.
  (See Teaching Kids to Wait – Part 2 for more about children and money management.)
Spring’s Picture Books
We have been amazed at how much good parenting information is in children’s picture books – books that we hope you are reading everyday to the children in your lives – your own, your class, those you take care of.  For each book, we are noting there is something in it to remind you of how to be the parent you want to be.
A reminder that your child has a star within him, and you can help it shine.
A reminder that you can help your children with sad and frustrated feelings when they can’t have everything they want.
A reminder how important it is for your children to learn to wait.
A reminder about what it means when your child says no and how important your response can be.
A reminder that it is important to help your child handle his or her aggression.
A reminder of how important it is for your child to have your attention.

Read All About It:

Teaching Kids to Wait – Part 2

SELF-ESTEEM A FAMILY AFFAIR, Jean Illsley Clarke

GROWING UP AGAIN: PARENTING OURSELVES, PARENTING OUR CHILDREN, Jean Illsley Clarke and Connie Dawson

Surf the Internet:

money management for children

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