Suze Orman may be the money guru of today, but sometimes I think she took a page from my parents' handbook on raising financially responsible children. Growing up, my folks paid us for hard work done around the house and allowed us to spend it how we wanted. My chores included cleaning my room, making my bed, helping with dinner, doing dishes, and other things that eased the burden on my mom and step-dad.
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It's back-to-school time, and most middle school students in Washington, D.C., are entering with new motivation to do well in school. The district is testing a new incentive program that rewards kids with money for getting good grades, and they could earn up to $100 per month.
While my parents didn't use money to motivate me to get good grades, many of my friends' parents paid them for doing well in school.
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My daughter loves slipping crisp bills into her purse. On a recent outing, we stopped for lunch and when the check came, she announced, "I'll pay! I'll pay!
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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?
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"I paid for my cheerleading and everything [by working at Wendy's for six years]. It was like whatever you want to do outside of school, you have to pay for it. I never had a car because I was always trying to save."
