Sue Scheff: Teens and Allowance
What an interesting topic and in today economy many parents have to make cut-backs. However when it comes to our kids allowance, what are the limits? More important, what lessons can be learned? Our kids need to be aware that being responsible with money should be a priority. Source: Tangerine Times I AM NOT YOUR PIGGY BANK During the week-end wrestling tournament I sat with two other parents for the better part of 12 hours. It was an endurance test. I’m glad I went but it was a long time. You really get to know others when you spend that many hours talking. The talk turned to money. Specifically, how much allowance to pay a teen. One said they give their 17 year old son $150/month to be used for dates, extras and such. Frankly, given the financial position of this family, I was pleasantly surprised at their restraint. Additionally, their son is completely re-building a ‘66 Mustang for his car. Until it runs, he doesn ’t have a car. Good way to learn something don’t you think?? ...