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How Do I Replace My Kids’ Entitlement with Grit?

Parents need to learn that we give our kids more by giving them less. To eliminate entitlement, start by replacing allowances with a “family economy” that teaches children how to earn, budget, save, and spend wisely.

When we give children money, or buy everything for them, they never feel the sense of real ownership because they did not work or give up anything for what they have. Thus, they do not value it or take care of their money or their things. It is not difficult to set up a family economy with a family bank in which kids have interest-bearing accounts with checkbooks and deposit slips; and to establish chores or responsibilities for which they are paid. They are then in a position to buy the things they want rather than beg for them, and to learn through hands-on experience how to save, and budget and even how to give to good causes. For a complete overview of how to set up such a system, visit the links

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