Great article! I highly favor giving children opportunities to earn allowances
at home. I also see it as a golden opportunity to help them to learn the
importance of saving for something special, for a rainy day, or just to have the
satisfaction of saving. We're missing the boat if we fail to teach our
children about something so important as saving. Even the idea of starting
early to pay for one's own college education would do wonders for a
child's understanding of the importance of saving, as well their
understanding of the value of the dollar. I believe saving also contributes to
a child's self esteem.
I love this article! It is so sad that even though kids receive an allowance,
their parents don't instill a need for savings by continuing to pay for
their extra curricular activities. With the economy like it is, learning to set
aside money for a rainy day is critical for our future!