The Allowance Rules: Teaching Money Skills to ADHD Kids

An allowance is a great teaching tool for an ADHD child – if parents don't make the common mistake of using it as a reward for completing everyday chores.

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When to Start Giving

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.

Some parents give $1 a week for each year of the child's age - for instance, $8 for an eight-year-old. But these days, it may be better to take a realistic look at the kinds of things your child is likely to spend money on during a typical week, and to calculate an allowance based upon the costs of those items.

Next: How to Train a Smart Consumer...

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