Kids' Allowances

An excerpt from Slate -

You’re Doing Allowance Wrong
Don’t start it too late, don’t link it to chores, and don’t skimp. Here’s how to do it right.
By Ron Lieber

When it comes to kids and money, there are few topics that cause more confusion for parents than allowances. When should you start? Should it depend on the completion of chores? If you give too little, are you a scrooge? If you give too much, will your kids become brats?

Alas, most parents, acting on their own or following the lead of others, get allowances wrong. They start too late, they hand over too little money and responsibility, and they tie the money to the completion of household tasks while asking nowhere near enough in the way of household cooperation. In short, they don’t focus enough on how their kids use money, nor do they push them hard enough around the house, rendering their adult-making efforts wholly half-assed.

http://www.slate.com/articles/business/moneybox/2015/02/kids_allowances_you_re_doing_it_completely_wrong.html