If you give a child an allowance ...
Ten tips for teaching kids how money makes the world go round.
By Brad Munson
Piggy banking 101
In this age of instant credit, micro-money, and “buy now with a single click,” even the idea of an allowance may seem old-fashioned. Still, educators, counselors, and economists say that an allowance can be an important learning tool for children of almost any age, not to mention a great way to build a sense of trust and responsibility that benefits the entire family. If you’re thinking of offering one to your kids, here are some basic dos and don’ts to consider before you begin:
Next: Have a plan »