A Practical Procedure for Instituting a Chore and Allowance Program for Grade School Children: Specific Guidelines for Clinicians

ABSTRACT

We provide a practical and easy to use plan for instituting and maintaining a successful chore and allowance program for children. Outlined are specific guidelines regarding how to teach children basic money management skills such as how to save, spend, and invest their earnings. We also provide explicit examples for teaching these skills that can be easily adopted by parents and clinicians who specialize in working with children and families.

KEYWORDS:

• Allowance program
• household chores
• investment concepts
• behavioral intervention