Financial Literacy for All Americans

3 Comments to “Will getting an allowance now help kids be better at handling money when they grow up?”

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1. gary
   November 6, 2009 at 9:23 am | Permalink

   I think it can teach kids at a young age how to handle money, and lets them appreciate how much things cost. Especially when they ask for something expensive and Mom or Dad answers “Save up your allowance”.

2. Bruce
   November 6, 2009 at 9:40 am | Permalink

   If the financial education aspect is tied into the responsibility aspect of why they are getting an allowance, it can be doubly rewarding for both parents and child.

3. Carmen L.
   November 11, 2009 at 2:16 pm | Permalink

   Children learn the wrong lesson if they are given money for merely “existing”. They need to learn that money doesn’t grow on trees, it has to be earned. We pay our kids for doing extra chores and this teaches them both the value of hard work and the value of a dollar.

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