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?
Thanks!
W

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.

Susan

This entry was posted on Monday, October 26th, 2009 at 8:27 am and is filed under Allowance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.