A reader recently asked me a good question about allowance:

I have two children (8 & 10 years old) and I would like to give them an allowance. How much money do you recommend for these ages?

Dear W,

Go back to the blog and search for all my entries entitled “allowance.” It is all there. If you still have questions after reading everything I have written to date, send me another email.

One note, start the 10 year old first — before the 8 year old. Allowance is a privilege and if you start them together, the 8 year old will lose the chance to learn from watching the older sibling. And the older sibling will see allowance as a reward that comes with age that comes with more responsibility.


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Written by Susan Beacham
Susan Beacham founded Money Savvy Generation in 1999 after almost two decades in private banking and investment management complemented by considerable time teaching at the elementary level.

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