http://www.fivecentnickel.com/2005/08/11/kids-money-tweaking-our-allowance-system/ personal finance tips, tricks, and commentary Sun, 22 Nov 2009 04:49:32 -0500 http://wordpress.org/?v=abc hourly 1 http://www.fivecentnickel.com/2005/08/11/kids-money-tweaking-our-allowance-system/comment-page-1/#comment-124268 mb Sun, 14 Sep 2008 01:26:13 +0000 http://www.fivecentnickel.com/?p=122#comment-124268 I wish my parents had the forsight to start that early, i had to drag Mom to the bank to start a savings account myself at the age of 8... poor bank manager got to count out $100 in coins and one doller bills. my family never had a required amount for save/ spend, interesting difference to see for other famillies. you dont say how long the longterm saved money stays put or what its for, (could it be for a big purchase, or cant be tuched 'till college?) but I recomend letting your spender children "run out" of money one time, to teach that when the money is gone, it stays gone untill next week, if it hasnt happened already. I wish my parents had the forsight to start that early, i had to drag Mom to the bank to start a savings account myself at the age of 8… poor bank manager got to count out $100 in coins and one doller bills. my family never had a required amount for save/ spend, interesting difference to see for other famillies. you dont say how long the longterm saved money stays put or what its for, (could it be for a big purchase, or cant be tuched ’till college?) but I recomend letting your spender children “run out” of money one time, to teach that when the money is gone, it stays gone untill next week, if it hasnt happened already.

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