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Elementary School-Aged Kids
Reply to "where/how o your kids keep their allowance $$"
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[quote=Anonymous]We set up bank accounts for our kids and do automatic weekly transfers. Partly that is because we are not good about having cash on hand for three kids every week, and part of that is because my kids are young enough that cash burns a hole in their pockets. It's worked pretty well for us -- they can watch their money grow, and if they want to spend it on something little we can give them some cash and get paid back by a transfer from their accounts, and if they want to buy something bigger we can have a discussion about the pros and cons of the purchase. It's ultimately their decision but they are learning about short-term vs. long-term gratification.[/quote]
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