Guides for parents

Teaching Kids About Money

Practical guides on allowance, chores, saving and compound interest — written for parents who want their kids to understand money before it matters.

How Much Allowance Should You Give? A By-Age Chart

The "$1 per year of age" rule is a starting point, not an answer. Here is a by-age chart and a way to pick a number that fits your family budget.

You do not need a debit card or a monthly fee to teach saving. You need a balance your child can watch grow, and a rule you never break.

Do not explain compound interest. Demonstrate it, on a timescale short enough that your child can watch it happen.

Both camps are half right. The fix is deciding which chores are duties and which are jobs — and never letting the two lists blur.

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