Inspired by the idea of an employee's annual work review, we sat with our 8-year-old son for an allowance review. We evaluated Timothy's money management and found he excelled in giving, saving and showing responsibility. We told Timothy that because he'd been a good steward with a small amount of money over the past year, we would entrust him with more money this year. Timothy liked being treated in a grown-up way and was thrilled to receive an allowance increase. We hope knowing the annual review is coming will motivate him to demonstrate good money management.
This article appeared in the January/February 2014 issue of Thriving Family magazine. It was reprinted from the October 2007 issue of Focus on Your Child: Tween Ages and was originally titled "Annual Review." Copyright © 2013 by Mark and Laura Long. Used by permission. ThrivingFamily.com.
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