Allowance Magic: Turn Your Kids Into Money Wizards

You can. All it takes is a little Allowance Magic. This step-by-step program gives you the tools you need to teach your kids about money and money management as you help them develop the habits of saving and sharing. At the same time, those frequent requests for money, and the occasional arguments they can lead to, are gone forever.

With Allowance Magic, you develop a structure within which your kids make most of their own day-to-day financial decisions. That way, they learn to plan their expenditures and shop for value. They also get in the habit of saving and sharing a portion of everything they get.

Allowance Magic includes two distinct sections. The first is for parents. It presents an overview of the challenges you face in helping your children become financially responsible along with the specific actions you can take to overcome those obstacles. It also leads you through the process of setting limits and establishing rules. Once you complete this section, you will have put together an allowance program that's just right for you and your kids.

The second section - The Kid's Money Wizard Journal - is for your kids. Once they complete it, you review and discuss their information with them. In the process, both you and your children work together to establish age-appropriate responsibilities and expectations. The completed Journal serves as a written record of the agreements you've reached and becomes your child's working financial plan.

So, what are you waiting for? Start making your own Allowance Magic today and watch your kids become Money Wizards! Why wait? Order Allowance Magic now!

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All Customer Reviews
Average Customer Review:
0 of 0 people found the following review helpful:

Not The Best Money Guide For Youngsters, 2008-09-21
I was very disappointed with this money guide for children. It is probably more suited for late teens, but certainly not for "kids". Some of the concepts are too detailed and difficult to understand and the format presentation makes for difficult reading.


0 of 0 people found the following review helpful:

Awesome, 2008-05-29
This product has very few pages, yet it is one of the most concise and clear cut plans for teaching your kids about money via an allowance. I love this book.


0 of 0 people found the following review helpful:

A Good, Clear Method , 2008-05-27
I found this book to be a very clear approach to helping kids manage money. The examples are good, the worksheets are clear and the text is direct and easy to understand. We showed it to our 13 year old daughter and she was excited about it and couldn't wait to get started.

If anything is missing its that the background information is minimal or absent. For example, the author states that some parents choose to pay their children to do chores or make good grades and ends that brief discussion with the statement that it simply doesn't work. Its clear therefore, that the author chose to focus strictly on the mechanics of the allowance system and since you can find more detailed background about parenting styles and philosophy elsewhere it isn't a big detractor.
Reading the book brought to light the need for me to make many decisions about the different categories of money. You don't just decide to give you child x dollars, you must decide how much for spending, how much for saving, how much for gifts to friends and family (birthdays holidays, etc). Parents are shown that they can and should make age appropriate decisions for the child relating to money. Parents can elect to not include some categories for their child. For example, a portion of the allowance might be for clothing which you would likely give to an adolescent but probably wouldn't give to a 5 year old.

The author encourages you to involve the child in the decision process and the format and tone of the book clearly would appeal to kids.





0 of 0 people found the following review helpful:

Great ideas, confusing presentation, 2008-01-16
The workbook is packed with great worksheets, tips and examples, but is presented in a very confusing manner. The explanations in the beginning pages of the book are very helpful, but once I arrived at the second worksheet page where you figure percentages, I started to get confused, because apparently, info from later in the book is needed to complete the page. It took 2 adults looking at it to work it all out, but now that we have the whole picture, we can make this work for us. This plan is much better than the divided piggybank type plan, where you just plunk coins into the spending, saving, charity sections, that sort of thing. Having said the above about being confused, I'd still recommend it, and would just explain where to find the needed information. Basically, if buying this, read the entire book (not a huge book) before embarking upon this new plan.


0 of 0 people found the following review helpful:

Adapt the ideas to your own family needs..., 2008-01-12
This book is a tool to be adapted to each parent's needs. In fact the book is a tool that shows you how to use "allowance" as a tool to teach kid money management.

The goal is to teach your child money management before they leave home. Let them make mistakes now, while you can be there to advise and assist them.

You provide an allowance to your child along with a requirement for your child to pay for some of their own expenses. (In a sense it is a wash for the parents.) You give your child the power to make spending decisions and as a result, you give your child the chance to make mistakes. Allowance in this book is NOT free money because there are restrictions on how your child should spend the money received. (Charts and ideas for restrictions are provided.)

If you use the rules in this book to set up an allowance plan, suddenly your child will have to choose between spending money on a movie with friends or buying a gift to attend an upcoming birthday party. That is what the book is about, teaching responsibility and how to make good choices (or suffering the consequences of poor ones).

If you are like me, and don't believe in allowance, you can still use the rules in this book to set up a spending plan with your child. Since there is no allowance, the child's money will have to come from gifts or a job like babysitting, lawn mowing, cashier, etc. This book can be ideal for a child who just began working! It will be a little more challenging for you because you will have to convince your child they should pay for a percentage of their own expenses. I told my children, "Everyone in this house who earns an income or has access to money (if money comes from gifts), must help contribute toward their own expenses." Kids think twice when it is their money being spent!

Whether money is from allowance or other means, using the guidelines in this book will help your child learn how to make the right (or wrong) financial decisions before they leave home!

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