Risk Tolerance. What’s Your Number?

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About Trudy Beerman

Debt Free Wealth Building, Corp. is a non-profit money education organization helping those who desire it: delete debt, build wealth, and protect family assets. Trudy Beerman holds multiple credentials within the financial services industry. Visit www.DebtFreeWealth.org for more info.
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One Response to Risk Tolerance. What’s Your Number?

  1. Shiho says:

    Not a parent yet, but I liked what my patrnes did for me, and would probably continue it:We had a fixed allowance, which was that each week, we got however many dollars old we were (i.e. when I was 10, I got $10 a week). We had an expected chore each week (my siblings and I rotated through trash, dishes, vacuuming, and everyone spent about two hours on yard work on weekends), and allowance was docked if we did not do them. Behavior did not influence our allowance, nor did performance in school.Almost as important as deciding how much allowance to give, is to decide what your child will be responsible for purchasing themselves with the money they earn (through allowance or jobs).Any entertainment (including going out with friends, going to prom, etc), was always on our own money. Most clothes was on our own money too, though my patrnes would occasionally take us shopping for basic school clothes.

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