A few years ago I read [some of] The Opposite of Spoiled (http://ronlieber.com/books/the-opposite-of-spoiled/), which is about teaching kids to be smart about money. Basically the idea is to give them an allowance so that they learn about personal finance before they go out on their own. He argues that allowances should not be tied to chores, because chores are just part of being a family member and older kids can decide that they make enough through some other job and therefore don’t have to help around the house. He recommends a larger and larger allowance as kids get older, where they are responsible for more and more of their expenses (like sports, clothes, gas etc).
We’re starting with $4 a week. I was struggling to think of where we could take D to spend such small amounts of money on something other than just candy. My solution is Goodwill!
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