Kids and money: Here's how much Americans are spending on an allowance investinyou (In partnership with acorns.)
While many financial experts tout the allowance as an important tool to teach kids about money, a recent survey commissioned by"Whether or not to pay an allowance is a personal decision, but teaching about needs versus wants is a must-do," said Ted Rossman, industry analyst at CreditCards.com.
If you are only teaching your kids about money in terms of coins and bills, you are doing them a disservice."Conceptually, the allowance for rendering services is a good way for children to know that you get paid for working," said Braxton, founder and CEO of Financial Fountains in Baltimore and a member of the
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