Category Archives: Allowances

Teaching Kids About Buyer Beware

One of the principles of personal finance is understanding the difference between a want and a need. And then making sure that you budget for needs first and can afford the wants. But it’s a tad difficult to use an allowance to teach kids, at least the elementary school set, about this. At this stage,Continue Reading

iAllowance for iPhone and iPad

Allowances are a great way to teach kids about personal finance. (Unless you believe Lewis Mandell, a professor of finance at the University of Washington, who looked at more than 50 years’ of research into the effectiveness of allowances and concluded that that they can backfire.  Especially if you dole them out unconditionally, in whichContinue Reading