The No-Cash Allowance by Lynne L. Finch was named Most Outstanding Parenting Book by the Mom’s Choice Awards®. Website: www.TheNoCashAllowance.com.
The No-Cash Allowance explains an easy-to-use money management strategy to help kids learn how to manage money without cash. Kids are responsible for keeping track of their own money so the system doesn’t break down.
The No-Cash Allowance is a flexible plan that is easily adapted to any homeschool setting.
1) Easy to start with pre-schoolers and continues through high school graduation.
2) Places responsibility on kids for math, record keeping and decision making about their money.
3) Introduces concepts of managing money that does not exist as cash, an important skill for kids to learn before they become adults.
4) Continues from year to year, while kids learn to manage more money and assume increased responsibility.
5) Parents, in this case teachers, become facilitators and advisors about the subject of money, instead of being parent authority figures.
A no-cash allowance places control of cash and non-cash money in the hands of the child to create a real-life money management experience including both fun and necessary spending. Children can learn to manage money day-to-day while making responsible spending choices.
As always, fun learning is forever learning!