Thursday, January 10, 2013

Allowance Request

Our eight year old daughter has been hinting that she would like to start receiving an allowance.  I remember when I my first allowance request.  I whispered into my dad's ear and asked for a quarter a week. To my surprise, my dad agreed.

For our daughter, we've already thought about how much allowance to give and we've also funded the allowances with a UTMA account.

I've asked my daughter to do two things to qualify herself for receive an allowance: consistently demonstrate responsibility and discipline.   Specifically, she needs to independently do her chores and meet time commitments on a regular basis.   She agreed and I've noticed that she is making a good effort in both areas.

For me, I think a month of consistent demonstration will be sufficient to start the allowance.   Based on the motivation I am seeing, I expect this allowance qualification process will be a good one.

For more on Crossing Generations, check back every Thursday for a new segment.

This is not financial or parenting advice. Please consult a professional advisor.

Copyright © 2013 Achievement Catalyst, LLC

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