Back to School Allowance Advice for Parents

February 12th, 2013 posted by Eileen Gallo, Ph.D., and Jon Gallo, J.D.

by Eileen Gallo, Ph.D., and Jon Gallo, J.D.

What do good schools and well thought out allowances have in common? Both teach your child a vitally important life skill: reflective thinking. Kids are naturally impulsive. Learning how to reflect before making a decision – learning to think in terms of choices, alternatives and consequences — is a great life skill for kids to learn. Stanley Greenspan, M.D., one of the country’s leading child psychiatrists, says that children who develop the ability to think in terms of choices and consequences are likely to grow into teenagers and adults who “can solve problems and assess and evaluate their own impulses and desires.” Teens and adults who never develop this skill are “limited to their immediate and often impulsive reactions to events.”

Eileen Gallo, Ph.D., and Jon Gallo, J.D. (1 Posts)

Eileen Gallo, Ph.D., and Jon Gallo, J.D., are experts on children, families and money, and the authors of The Financially Intelligent Parent: 8 Steps to Raising Successful, Generous, Responsible Children (New American Library/Penguin Group), and the web site, which includes the printable Family Chore Chart, Allowance Tracker, Financially Intelligent Parents forum, and other parenting tips and tools.

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