Rewards & Consequences

Allowance Dos and Don’ts

A regular allowance can help your kids learn the vital importance of saving. Here’s what you need to know.

Peter Jaska, Ph.D.
By Peter Jaksa, Ph.D. Verified Updated on February 17, 2022
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Parents of children with ADHD have heard it all — the snide comments, the unsolicited medical advice, the cries of “if only he tried harder!” — and it can be hard to not respond to rude comments in kind. In this webinar presentation, Ned Hallowell outlines the perfect framework for responding to uneducated comments with accurate medical information or snappy comebacks. Plus, tricks for boosting your child’s self-esteem when ADHD gets him down. Listen now!
Parents of children with ADHD have heard it all — the snide comments, the unsolicited medical advice, the cries of “if only he tried harder!” — and it can be hard to not respond to rude comments in kind. In this webinar presentation, Ned Hallowell outlines the perfect framework for responding to uneducated comments with accurate medical information or snappy comebacks. Plus, tricks for boosting your child’s self-esteem when ADHD gets him down. Listen now!
  • DO give the allowance on the same day of the week, every week.
  • DON’T tell your child how to spend the allowance money. That defeats the purpose: teaching financial decision-making.
  • DO base the amount of the allowance on the realistic spending needs of the child at that age.

[An Age-by-Age Guide for Teaching Your Teen How to Manage His Money]

  • DON’T pay your child for cleaning her room, completing homework, and so on. Everyday chores should remain separate from an allowance.
  • DO build your child’s money confidence by praising good money-handling habits and decisions.
  • DON’T tie the allowance to grades. Most children with ADHD feel enough grade pressure as it is.
  • DO provide opportunities for your child to earn extra money by doing jobs around the house.

[Spending and Saving Basics for an I-Want-It-Now Child]

  • DON’T criticize poor spending decisions. Discuss them with your child, and let him deal with the consequences of his decisions.
  • DO set a good example for your child through your own financial planning and responsible spending decisions.