This is Optimal Finance Daily, episode 1444.

Should you give your kids an allowance by Don Starks of SimpleMoneyPro.com

and I'm your host and personal finance enthusiast Diana Miriam.

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optimizing your life. Should you give your kids an allowance by Don Starks of SimpleMoneyPro.com?

As parents, one of the most powerful life lessons we can pass on to our children is the lesson

of how to manage money. If you're good with money as an adult, you can easily pass on the

lessons you've learned to your children. But what about if you aren't all that great with money?

Regardless of your own financial upbringing, you can learn the basic principles of successful

money management and give your kids the best start in life you can. One way to teach kids about

money is through the use of an allowance. Opinions differ as to whether allowances are an appropriate

tool for teaching kids about money. And those in the pro allowance camp have different opinions

about how to administer allowances. Let's look at some of the various thoughts about and methods

of giving an allowance. To allowance or not to allowance. One argument against giving kids an

allowance is that you raise adults who think they should be given a handout just for existing.

While I'm a strong advocate that kids need to be taught that money comes from work, not a magic

money tree, I think this position on allowances is overly harsh. Giving young children some money as

an allowance won't breed laziness unless you let it. Instead, you are giving your child some

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