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How to teach your teen financial responsibility with allowances

As many of you know, I am a huge proponent of encouraging our teens and tweens to have jobs and work for themselves. I believe this is great for our kids for SO many reasons, but especially great for teaching our kids some financial responsibility!

There are plenty of kids that think that money grows on trees, and that mommy and daddy are a personal piggy bank. They may not know that it took you a full 8 hours of work to earn enough money to buy them those brand new shoes. Or maybe a full week’s work to afford them that new cell phone.

My personal opinion is that every teenager should have a small part time job where they can work for themselves, set their own hours and their own schedule.

But that doesn’t work for every family!

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Because I am a mom, I know that one size does NOT fit all! Some ones parenting advice may not work for you, for your child, or for your family.

That is why I love talking to other parents with other points of view, that have a strategy that worked for them. (If it works, don’t knock it!)

A few weeks ago, I got the opportunity to interview Sybil Jones from Mamas and Coffee, to get her opinion, and her experience of how she teaches her 3 teen and preteen daughters good financial management and financial responsibility.

Take a look!

(This video was pretty exciting because I got to interview her in person. But because we were outside, the video quality wasn’t perfect because of a weak internet connection. But the information she shares is still amazing!)


Here is the audio if you’d rather have a listen!


In my interview with Sybil, she explains how allowances have truly worked for her! And here’s how it can work for you too!

For example, if your child or teen is always coming to you asking for money to:

  • Buy new shoes

  • buy new clothes

  • hang out with friends

  • buy stuff at the mall

  • go to the movies with friends

  • go shopping

  • go out to eat

Our teens and preteens may often ask for money, and as parents, we want them to have fun and have full experiences in their childhood. so it can be really tough saying no.

If you are a parent that doesn’t like saying no, then giving them tons of cash whenever they want, doesn’t really teach them good financial management.

So instead of giving them cash on demand, you can give them a set allowance for the month. That way, they have to learn to set money aside for the extra spending and entertainment they may want throughout the month.

Sybil uses a set amount per age of each of her 3 daughters. She is able to not overspend on her daughters entertainment because they have already been given a SET amount.

If they run out of money, and come to you asking for more, the only response needed is: “What happened to the money I already gave you?”

After talking with Sybil, her strategy with allowances has completely changed my mind!

I now totally believe that this can be a strategy that works! If you have tried other strategies to teach financial management and financial responsibility that just haven’t worked, using allowances for your teen or preteen is a great option to try!


Hey there! My name is Rachael and I have been a private tutor for over 10 years. I earned my undergraduate degree in 2 and a half years and earned my graduate degree by age 22. I have tutored dozens of high school students, college students, and graduate students. I offer support, encouragement, and resources to help parents learn how to best help their teen or child that is struggling in school.


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