Parents know…life can sometimes be hectic with kids. But something as simple as establishing routine can help life run a little more smoothly and efficiently. When kids know what to expect, they feel more relaxed and in control. And because of their predictability, dinnertime-, homework-, and bedtime-routines can actually give kids a sense of mastery in handling their own lives.
A tangible way to involve kids in routine is to post a large family calendar in a prominent location. With the help of your kids, fill in the important weekly events: Monday at 4:30 – piano lessons; Wednesday at 3:30 – soccer practice; Saturday at noon – Grandma visits, etc. Each morning, discuss the daily happenings. As your kids get older, have them fill in their own weekly events. Knowing helps kids learn how to set up and be in charge of their own lives.
And, a huge added benefit, because routine helps maintain consistency in parental expectations, it helps to reduce potential power struggles.
The Money Connection: Kids love routine. It gives them a sense of order and predictability. When they know what’s going to happen, they can act accordingly.
When it comes to money, an allowance is a perfect tool to help establish this sense of order and predictablilty. One of the keys, however, is that kids know how much allowance they receive and that the allowance gets paid out routinely (KidsSave can help with this). Knowing how much money they have each week/month allows them to make better financial decisions and making good decisions leads to a sense of confidence in their ability to handle money. Besides, learning how to budget at this early age is best done when kids have a predictable amount available to spend.
Routine also comes in the form of expectations for the allowance. When kids have consistent responsibilities for their allowance, they know their choices and can act based on those choices.
This knowing helps kids learn how to effectively manage their money.
It may take a little time to get the allowance routine established, but when it does happen, your kids will be learning skills that will last a lifetime. Good to know.