Parents know the nature of each individual child that they bring to this world and with time they develop different tactics to deal with them in the best possible manner. We have seen these tactics being applied by our own parents on us when we were small kids and we should understand that dealing with small kids and teenagers require slightly different approaches. Parents use a reward system to teach their children valuable life lessons and integrate them into the society with all its ups and downs. Therefore adults usually give allowance to their children for getting good grades at school or doing a job well done. This not only teaches them good money management skills but also allow them to develop a strong work ethic. This article will discuss ways in which parents can put aside some allowance for teens and how to give them the reward in a befitting manner.

Weight Of Responsibility

It is always a good thing to allow your teenage children to experience the weight of responsibility no matter how small it may be, and giving teens allowances for completing tasks at home would allow them to shoulder some domestic and social responsibility as they move along in life. Usually the rewards in the form of allowances are given to teens for doing extra work around the house. Apart from learning essential budgeting skills, teenagers would also develop other good habits if you know how to give them allowance according to a strict set of rules. Following are some suggestions that would help parents of teenagers maintain a just reward system at home.

Respecting Your Teen’s Time

Parents should be careful not to waste their son/daughter’s time when assigning them domestic chores. Teenagers are a tricky bunch of individuals and they get involved in other activities as well apart from household chores. For instance, children have to juggle their time between school, homework, extra-curricular activities, and leisure time. It is best to discuss the nature of the chores you want to assign to your kids and how to make some space for it in their daily lives.

Clear Expectations

Adults should make it a point to talk about the expectations they have from their kids in a reasonable manner as not to tick off the teenagers. Talk about your expectations with your kids and also hear them out as to what they expect to get from the chores that would be assigned to them. Parents should talk to their kids about their academic and social performance in relation to taking out time for the domestic chores. It’s best that both parties agree upon something before allocating allowance for kids.

Learning From Experience

As an adult you should be more tilted towards the idea of teaching your children to learn from the experience of earning allowance by undertaking random household chores. This is necessary because sometimes teenagers might develop a distorted sense of entitlement and may demand the reward from you by not completing any task at all. Let your thoughts be known beforehand to avoid any inconvenience in the future.

Put Savings In A Piggy Bank

If you really want to teach your teenage offspring about the value of money and how to save it for a rainy day, you ought to make it clear that some of their allowance would be deposited into a savings account. A piggy bank would also do under such circumstances. By the time your kids reach legal age they would have some money to lean back on any time they want.