Posted on 02/04/2014 4:35:40 AM PST by SoFloFreeper
There's been a big jump in the number of parents who are giving their children allowances bigger than $10 or $20 a week, according to numbers crunched for Reuters by Baltimore-based money managers T. Rowe Price, which are derived from its annual Parents, Kids & Money surveys....
"There could be a couple of things going on here," explains Stuart Ritter, senior financial planner at T. Rowe Price. "One is that as the economy has been getting better, families are feeling a little more stable and are sharing that with the kids.
(Excerpt) Read more at chicagotribune.com ...
You guys are all rich!
My parents offered to pay me 2 bits a week .25 cents
They stiffed me many times..... I have some money in the bank and learned to be careful with my money
My older sister was given a credit card when she was about 16. She has been in debt ever since and at one time had to cut up her credit cards. She also borrowed money using her home (bought by parents) as collateral twice that I know of.
It might be best to give your kids chores to do instead.
Agree. It teaches and reinforces the concepts of budgeting, prioritizing and saving.
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