We’ve been meaning to start H on an allowance for awhile now. Yesterday I finally sat him down we talked all about it!
We also listened to a couple of these free podcasts about spending, saving and sharing money. I think it helps to have H not just hear from me, but hear someone else (even if it is just Elmo) talk about it too.
He was pretty excited.
We decided to start him off at 5 pounds a week. (About the equivalent of a dollar). I have no idea what protocol is here, but this is what we decided. 5 pounds is easy to divide up and is a small starting point, which is good I think.
Then he emptied his old Hippo bank and we divided up that money too.
And here we go on a long journey of teaching our kids how to manage their money. Yikes!