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Children and Allowance – When to Start and How Much

children allowance

Do you know why most people make big financial mistakes like impulsive shopping, poor spending habits or accumulating debt? It’s because they were never taught about personal finance. Schools rarely cover the topic and parents often neglect to teach these concepts to their children. This is a disservice to the youth of today. It is vitally important that you teach your children how to save and spend wisely. By giving them an allowance, you can teach them lessons about money that go far beyond those few dollars a week. These lessons will become ingrained and will last a lifetime. Here are some tips for teaching your children about money with an allowance. When to Start As soon as children can count to ...

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