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5 Reasons to Give Kids an Allowance

At the foundation of a person’s financial intelligence should be this undeniable truth: It is not the amount of money you have, but what you do with it that matters. This is true for a child managing a $5-dollar-a-week allowance or a corporate executive with a $5,000-dollar-a-week salary.

Unless your children learn simple, wise money management techniques, more money will never be enough.

The simplest way to get started building financial intelligence into your kids’ minds and hearts is by putting them on an allowance and then requiring them to suffer or enjoy the consequences of their financial decisions.