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Teaching Your Kids About Money

When should children begin earning money outside the house?

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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.

When should children begin earning money outside the house?

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: 449,880 views

This series: 16,201 views

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Money

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Finance

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Child

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Children

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Parents

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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: When should children begin earning money outside the house?

Rene Hackney: As children get older it's a good idea to have them start earning some money outside the household. When children are three to six or seven years old, it should all be within the household through chores, but as they get to be eight or nine or ten years old, you might happen start to move out maybe getting the newspaper in for the neighbor or checking on the neighbor s dog, or being a mother's helper down the street. So that they are starting to have some income from outside the home, somewhere by about 12 to 15 years old they should start to increase, that more of their money is coming from outside, and less is coming from inside, while the allowance is still there. Once they hit about 16 years old, though it should be that the money is coming from outside the family that they have a part-time job or something that they do in the summer. So they are learning how to work outside the family as well as within.

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