Once in a while, while chatting with friends with school-aged kids, the topic of allowance comes up. “How do you guys do it?” we’re asked. We aren’t financial gurus by any means but we do have a little system in place that will hopefully instill some basic financial sense in our children.
Our system is based partly on how Tim’s dad (former accountant) taught Tim, and partly on a short, practical book called, Money-Smart Kids: Teach Your Children Financial Confidence and Control