How To Give Your Kid Allowance Like A Child Psychologist
Experts have been casting doubt on the merits of giving children cash since at least the ’60s, when Helen Marshall and Lucille Magruder, both of the University of Kentucky, first reported that kids with pocket money displayed no more fiscal responsibility than those who didn’t receive allowances. Fifteen years later, psychologists in England similarly found no connection between allowances and good savings habits. The disconnect may stem from the fact that children often miss the point of allowances entirely — one 1990 study found that American adolescents have no idea their allowances are educational opportunities....