2. Some say that children like you should be given an allowance. Why?
A. It may teach you how to be responsible in spending your money and the consequences of poor financial decisions.
B. It may open the door to you in making poor financial decisions when spending your money.
C. It serves as spending money for non-essential items such as toys and video games.
D. It may not motivate you in doing your chores.
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Answers & Comments
Answer:
Vered’s Kids Are So Responsible!
My husband and I started giving our children, ages 8 and 10, a monthly allowance a couple of years ago. Now that I see how valuable having their own money is, how helpful it is in teaching them important lessons and concepts in personal finance, I regret not starting sooner!
Here are my top reasons for giving my children a monthly allowance.