All posts by Lynne L. Finch

“It’s time to teach the kids how to manage money they can’t see or touch,” says the author of The No-Cash Allowance. Follow Lynne’s common sense approach for teaching children to manage money as a number starting with kids as young as pre-school and continuing through high school.

Parents: Give Your Kids a Money Makeover with the Allowance Strategy in This Book

Mom using new allowance strategy with daughter
The No-Cash Allowance: A mom uses new allowance strategy with daughter to add a deposit to account log.

A magical thing happened on the way to the piggy bank.  As a result of being a check-and-credit-card mom I never had cash to pay my kids their weekly allowance. Clearly I needed a new allowance strategy.

I realized that because I managed without cash, they would learn to do the same. Consequently,  I stopped giving my kids allowance as cash.

With my new allowance strategy, I started paying my kids with  a number. Problem solved.

Because numbers never lie it was always clear who got paid and when. There was no more dumping out of piggy banks to count the money because the numbers told it all.

This no-cash payment plan became the basis for The No-Cash Allowance, a guide for parents to teach their children money management. Kids learn to manage cash and cashless transactions for both fun and necessary spending.

A no-cash allowance is a system in which a child controls all funds received from parents through a written account initially kept in the home. Adults act as bankers and the child as account owner.

A no-cash strategy in practice

One daughter opens her account, adds her weekly amount and records the new balance. She announces that she has enough to buy a new sweater. Her sister updates her own account and asks to stop at the bookstore. We shop. I pay using my credit card. When we get home they subtract their shopping expenses and update the balances in their accounts.

Throughout this experience no cash exchanged hands yet everyone knows exactly what happened. Money is deposited, balances grow, purchases are made and consequently, balances shrink. The kids proudly took responsibility for their own spending decisions and accepted the resulting change in their account balance.

The most difficult part for parents is giving up control and letting the kids make the decisions. Remember that scary feeling when you knew you had to let go of your child’s bicycle. You expected some bumps and bruises. The same thing happens with kids learning to control their own money.

Kids like the challenge of being in charge of their money; they like making decisions. Our mantra was, “It’s your money. You decide.”

We had to bite our tongues to avoid telling them about a spending mistake we could see coming. Yet, we knew that a $10 mistake by a kid would be a gentle lesson compared to a maxed out credit card as a young adult.

No-cash allowance strategy explained

Because I believed in The No-Cash Allowance after seeing the result with my own children, I invested my own money to write and publish the book to share with parents like you. The book is about kids and allowances, but more importantly it is about kids learning to make and understand their own decisions using money as the learning tool.

When my book finally rolled off the press our children had flown the nest. Yet, we knew that our allowance strategy succeeded because they never once called from college to ask for money and never moved back. Our children now have children of their own, who are learning to manage their money the no-cash allowance way.

As a mom, I set out to teach my kids about money. What they learned reached far beyond dollars and cents. My children learned essential life skills like confidence, decision-making and responsibility.

I believe your family can be as successful as we were.

The bottom line is that this allowance strategy shapes behavior through positive reinforcement by empowering children to make real decisions.

In the end, this mom learned that it wasn’t about the money at all.

Lynne Finch helps parents teach their kids about money from piggy banks to online banking. Buy The No-Cash Allowance today and follow her common sense approach for teaching children that money is a number. 

New Allowance Strategy Encourages Responsibility

New allowance strategy
A mom uses new approach to kid’s allowance with her daughter.

Time to try a new allowance strategy?

Lynne Finch, author of the award-winning book
The No-Cash Allowance will present two different workshops Saturday, November 5.

Fox Cities Money Conference
Fox Valley Technical College, Appleton, WI

How Much Allowance Should I Give My Child?

Finch says this is the most common question parents ask. To answer this, in the 10:45 a.m. workshop parents will look at the benefits of kids having an allowance. They will fill out a worksheet to help them calculate an allowance for their child.  In addition, parents will learn how to set up a system that will teach their kids good money management skills.

Finch suggests parents teach their kids to manage money as a number. Consequently, by giving kids control over their own written account they learn how each money decision affects their bottom line.

What’s in Your Wallet

The second workshop at 11:45 a.m. will focus on using cashless spending methods in helping consumers decide what cards are best for their needs. The differences in managing cash and cashless spending will also be discussed.  Especially relevant is a discussion about letting kids use plastic cards as part of their money management learn experience.

Can’t Attend?

Order Lynne’s book at the special conference price of $10, free shipping. PayPal and credit card orders. Offer expires November 30, 2016.

About the Fox Cities Money Conference

The 8:30 a.m. – 1:15 p.m. conference features classroom workshops for adults and students ages six and over, one-on-one credit report reviews, and door prizes, light breakfast, and luncheon.

Pre-registration is $5.00 for adults and $2.50 for youth under age 18. Day of event registration is $7.00 for adults and $3.00 for youth.  Free childcare for children under ages two through five is offered at no additional cost with advance registration .

For more information or to register visit

Approach kid’s allowance in a new way

Lynne Finch helps parents teach their kids about money from piggy banks to online banking. “It’s time to teach the kids how to manage money they can’t see or touch,” says the author of The No-Cash Allowance. Follow Lynne’s common sense approach for teaching children that money is a number with kids as young as pre-school and continuing through high school.