Do you give your children an allowance?

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Many parents are guilty of spending too much money on their children. It’s easy to do. Parents tend to dote on their children and want to give them everything, or to the best of their ability. It also has been documented that many parents do teach their kids about manners, about drugs and how to get good grades-but not about handling money.

On average a child will receive an allowance of $15 a week. Giving your child $15 a week adds up to $780 a year! According to this article, most kids do not save their weekly allowances. Obviously, teaching your kids about saving money at the age of eight years old seems trivial, but it could be beneficial to your child in the long run. Saving now can help kids have a chance of building a future faster, and would give them the opportunity to become more financially stable. Financial stability is important in everyday life, whether it’s buying a new car or a home. 

To read more about this topic and the original article it came from, click here

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