This is episode 61 and today I’m here with Chelsea Brennan talking about allowance.
Chelsea is the founder of Smart Money Mamas and its monthly membership community, the Motivated Mama Society. An ex-hedge fund manager turned financial educator, she is dedicated to changing the way we talk about money, helping moms connect with all aspects of their money in a way that lets them overcome emotional blocks, identify what they most want, and create the healthy money habits that help them achieve their biggest goals. All while modeling positive money relationships for the next generation.
Our Little Obsession
I share my little obsession with the Sage Money course!
Baggage: We share our stories of allowance from our childhoods.
Age: We give recommendations for when to start giving an allowance.
Format: We discuss giving cash versus digital currency.
Earning: We speak to the controversial “earned” component that some families incorporate with an allowance.
Savings: We explain how to teach kids the importance of saving.
Judgment: We talk about letting them make mistakes.
We answer the question of how much is a good amount to give for allowance.
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