Lynne L. Finch - The No-Cash Allowance

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The No-Cash Allowance by Lynne Finch is a hands-on money management system for parents to facilitate in the home. The strategy can be applied in homeschooling or as a companion to classroom financial literacy. This approach shapes behavior through positive reinforcement by empowering children to make real decisions. Children from pre-school through high school learn how to manage money as a number. Activities introduce concepts of debit cards, ATMs, electronic transfers and credit transactions using their own money. Examples of dialogue between parent and child create a picture of real life situations. Charts, tables and illustrations show how to set-up the allowance system. As a result, children are responsible for tracking all their money in their own accounts. A no-cash allowance places continuing control of cash and non-cash money in the hands of the child. Consequently this creates a child-size version of real-life money management.