Impulsivity, distractibility, and disorganization: All these symptoms make it hard for kids with ADHD to get a handle on spending and saving.
. It’s also a great tool for showing the vital importance of saving. And there’s a bonus: A child who receives an allowance is less likely to nag his parents for spending money.In lieu of a conventional allowance, some parents prefer that the child earn money for doing chores, babysitting, and so on. Often, the best solution is to use a combination of these approaches.
Whatever approach you take, it’s essential that you view the allowance as a teaching tool. Never make the allowance a reward for good behavior. Never withhold it as a form of punishment.At what age should a child start receiving an allowance? There is no hard and fast rule, especially when ADHD is in the picture. In my experience, a child who has reached first grade is probably old enough to understand the numerical concepts that underlie money, and thus to benefit from an allowance.
As a parent, you can help by walking your child through basic banking procedures, as well as by pointing out misleading ads and discussing the “buy” messages to which we are all subjected on a daily, if not an hourly, basis. Show your child how comparison-shopping can help him avoid paying too much. And explain the fine points of discount coupons and rebates.Generally speaking, children should be allowed to decide how to spend their allowance money .
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