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[quote=Anonymous]When did you start allowances? - around 4 or 5. I started with a penny. When they understood how much a penny was and that five pennies equals one nickel, they got promoted to a nickel, then dime, them quarter, then 50 cents, then $1, then $2, etc. When they got up to $7 a week, allowance stopped. I don't believe in one dollar per each year of age. A 6 yr old has zero need for six dollars a week. 
How much do you talk about finances in front of children? They do not know how much I earn or how much rent is. They know we look at the clothes on the sale rack first, and wait for things to go on sale before buying them. They know that health insurance covers the cost of a lot of going to the dentist, and what a co-pay is. I use that info to guilt them into brushing and flossing properly. They often hear me say things like "I really love this jacket, but I'm going to wait for it to go on sale" or "That looks like an okay movie, but I can wait until it's on Netflix and don't need to pay to see it in a theatre." 
How involved in family budgeting should kids be? - My DD is 11 and a rising sixth grader. I am actually thinking of giving her $100 about a week after school starts next fall and saying "Use this to buy the clothes and shoes you want for the next three months" and see how she does with it. But the kids definitely do NOT help decide how much I've budgeted for food shopping or cable or transit costs, or vacations. I don't let DD know that she's going to camp on a scholarship. 
What are ways I can start teaching my 2 year old about money now? (taking into account that he doesn't understand math, knows some numbers, really enjoys "8" and "14," and counts out of order frequently). I wouldn't really worry about it at that age. When my kids were that age I'd let them hand the money to the cashier but only once I could trust them not to eat or rip it. By age 3 or 4 I would hand them something and send them to go ask a cashier how much it costs and then bring me back that information. [/quote]

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