It makes sense.
Citibank recently launched one of the latest web tools for the fabulously wealthy: an online system called Spend Grow Give that monitors their kids' allowances. It's a strategy that aims to capture a chunk of the millionaire heir market. By getting them involved at a young age, the bank is hoping this will ensure the heir's loyalty even after he or she reaches adulthood. The good news is you Read more
She may hold a place on Forbes' Young Hollywood's Top-Earning Stars list, but Abigail Breslin has to earn her allowance like any other kid. The My Sister's Keeper actress celebrated her thirteenth birthday in April, and in her house that meant her allowance increased by $1. She earns her age in weekly allowance, and the chores she must fulfill for the $13 might sound familiar to what you had to Read more
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 Read more
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 Read more
"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." Read more
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! It's MY treat!" At four, her cash flow comes more from her dollar gifting Grandpa then from accomplishing chores. That's not to say that she doesn't pitch in a hand around the house, but at this stage in the game we aren't doling out an Read more
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 Read more
Ask GOP presidential candidate Rick Santorum why women shouldn't be allowed to serve in combat roles, and he will give you various reasons. First off, a man's emotions. Santorum believes men will try to save their fellow female soldiers, explaining this weekend: "instead of focused on the mission, they may be more concerned about protecting someone who may be in a vulnerable position, a woman in Read more
Everyone loves a pretty braid, but creating perfectly smooth plaits is difficult, verging on well-nigh impossible for those of us with layers. Which is why the disheveled braids coming down the runway are good news. They're pretty and fashion forward, but they allow for plenty of loose strands, not-quite-right crossovers, and stuck-out pieces, too. It's a braid new world, so don't be afraid to Read more
Making caramel may seem like a daunting task, but it is an exhilarating (and delicious) science project that requires a little preparation, patience, and timing. Challenge your candy-making skills by trying out this soft caramel recipe by a chef from the Culinary Institute of America. As you cook the caramel on the stove top, you will notice the sugar, butter, and evaporated milk will slowly Read more
