Lynne Finch, author of The No-Cash Allowance was named the Mommy Master of the Month. This monthly award recognizes a mompreneur through an initiative created by Ellie Hirsh, founder of MommyMaster.com.
About The No-Cash Allowance
Studies show that women are more proactive in teaching their children about money. As a mom my determination to teach my kids about money led me to create a strategy that simplifies the allowance situation with kids. As a result I could provide years of hands-on money education in my home. It all started because I didn’t have cash for my kids’ allowances.
In a moment of inspiration (or desperation), I paid my kids, who were ages 5 and 3, with virtual money, written in an account similar to direct deposit. This is the basis for The No-Cash Allowance.
Because I believed allowances are an important teaching tool I published my book as a guide for other parents. While the book is about kids and allowances, it’s really about kids learning to make and understand their own money decisions.
When my book finally rolled off the press our kids had left the nest. We could see that they were independent and taking responsibility for managing their financial resources. Never once did our kids call home from college to ask for money. So we knew that our system was successful.
Help children manage money
Moms are concerned about their kids’ financial future, but may not know how to help them learn to manage money.. It is important to help kids learn to make thoughtful day-to-day money decisions. As a result, we can help our children learn to be good managers of their finances.
Knowing how to manage virtual money–money that can’t be seen or touched–is an essential survival skill for the next generation.
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. It wasn’t about the money at all.
Mompreneur honored by Mommy Masters
About this award, Lynne says, “It’s an honor to be recognized for doing my part in helping moms educate their kids about money. Parents tell me that using The No-Cash Allowance has surprised and pleased them. They see the improved attitude and responsibility that their kids have about money.”
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.
The No-Cash Allowance is a Mom’s Choice Awards® Gold Recipient as a Parenting Book.Follow me on social media: