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Teaching Your Kids About Money

How does allowance change as children get older?

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Rene Hackney
Parenting Playgroups
www.parentingplaygroups.com  
(703)922-0044

Originally a full-time preschool teacher, Dr. Rene Hackney now holds a Master?s in school psychology and a PhD. in developmental psychology from George Mason University. She trained at the Developmental Clinic at Children?s National Medical Center and for the public schools, teaching in parenting programs at each. She has also acted as a consultant to several area preschools.

For the last four years, Dr. Hackney has owned and lectured for Parenting Playgroups, Inc, a parenting resource center and preschool classroom in Alexandria Virginia. She has offered workshops to a wide

range of parent, teacher and social work groups during this time.

Workshop topics include eight hours on positive discipline techniques, five hours on early academic issues and common issues such as sibling rivalry and potty training. All workshops provide well researched lecture, in-class practice and open discussion time. Additionally she hosts a monthly parenting focused book club and fun play programs to introduce the preschool setting to young families.

Dr. Hackney is married and has two young children of her own.

How does allowance change as children get older?

In this video, parenting educator Dr. Rene Hackney reviews the guideline for teaching children about money and the role of chores and allowance. This information is provided by age and includes teaching about spending and saving wisely.

This expert: 365,758 views

This series: 12,284 views

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Finance

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Parenting

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Banking

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Allowance

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Chores

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Work

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Job

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Spend

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Save

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Savings

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Charity

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Living

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Expenses

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Host: How does allowance change as children get older?

Rene Hackney: With allowance when children are young they say just make a list of chores and that's the amount of money they get, but as they get to be nine to 12 years old, it's a good idea to have and extra list, things that they can do to earn more money. So, on their allowance chart, it might be making their bed, and picking up their clothes, but there might be this extra list of dusting the dining room, or cleaning out the garage, so that they can earn a larger amount as they get older. There should also likely be some jobs that are not on your allowance chart and don't earn money at all. That idea is that for many families, they want children to participate in maybe making their bed, or feeding the dog, just because they are part of the family, you want children to be helpful in other way. So, the idea is you are also using those contribution type jobs where everybody just pitches in because we are a family not just the job that are for allowance.

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