All kids should be taught a few money skills at an early age, especially children with ADHD. Money management does not come naturally to those who are disorganized, impulsive or easily distracted; in fact, adults with ADHD are more likely to experience credit card debt due to compulsive shopping than adults without. That’s why children with ADHD should start learning how to become a smart shopper and live on a budget at a young age. You can use a weekly allowance to teach your child these essential money skills.
Working for money
Instead of giving your child a traditional allowance, you might want to consider having your child earn money by doing simple household chores. It’s a great idea to combine both – give your child a set amount of money as regular allowance, while providing opportunities to earn extra cash by doing additional tasks like washing the car, cleaning the attic, and other chores that lie beyond your child’s normal responsibilities. Doing homework, cleaning the room, and setting the table are everyday chores that your child must accomplish without any monetary incentives.
Either way, it’s important that you treat the allowance as a teaching tool rather than a reward to reinforce desired behavior. Do not withhold allowance to discipline your child, either.