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Kids and Money

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Kids and money

A friend of mine said that her kids didn’t seem to appreciate the cost of going to a high-end clothing store. She looked for a remedy. She noticed that a friend of one of her children never asked her mother for money. So, she asked the mother how she managed that.

This is what she did. The mother asked her child to keep track of all her expenses for a year. Then she divided that total by 12 and gave the child that amount each month.

dividing money, allowance, money and kidsAs a result of what my friend learned, she opened a credit union account for each of her kids, who were aged 11 and 14 at the time. She:

  • calculated how much they spent in a year and divided it by 12.
  • gave the kids a check at the beginning of each month and reassessed each year.
  • included everything she could think of: tuition for private school, clothes, piano lessons, school lunch, plenty extra for entertainment, and when they got older, car repair and gas.
  • paid their car insurance if they kept their grads up.

She told them not to ask for money, and they didn’t. Now they are grown and have an enviable respect for money.


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Author: Martha Childers

Martha Childers, EdS, LPC is a multicultural psychotherapist specializing in couples, grief and caregiver stress. Martha is a licensed professional counselor in Missouri and Kansas. She received her masters and education specialist degrees in counseling psychology from the University of Missouri – Kansas City. She practiced Zen through a variety of Japanese traditional arts for 3-1/2 years. Since that time, mindfulness has been an integral part of her life. Her interest in human nature, beliefs, and life styles led her to become a counselor.

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