Top 12 Money Mistakes Parents Make: $1 Per Year/Week

 

DollarWeekIf you’ve ever done research on kids and allowances, you’ve probably come across the idea of giving kids $1 per year of age, per week. A 7 year old would get $7 a week.

You’re about to hear what we think of that idea!

Care to guess?

Regardless of the amount you decide to give your child as an allowance, it should never be an arbitrary number. Decide FIRST what the kid will be responsible for paying for and then work backwards to determine how much money they will need to fulfill that responsibility.

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