If you watched Gossip Girl this season you probably noticed the characters' drool-worthy clothes, gadgets, limos and upper-crusty lifestyles don't come cheap. Even though it's pure fiction, the show's depiction of a pack of wealthy New York City teenagers raises some questions about our culture's financial ideals and expectations. Namely, how much money should children and teenagers be given and what kind of monthly allowance are these teenagers getting? Giving children a weekly allowance can be a useful way to begin teaching them about the cost of living, but when should you stop giving your children allowance?
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I got an allowance until I was 16. But it wasn't like most kids I grew up with where it was just their free-for-all money. I really had to work for this cash! We're talking paint the outside of the house and re-plant the garden in the spring type of work. But once I got a job, I could do a lot less work for more money.