12 Deals of Christmas
AMBER ALERT – Share to help find missing 1-year-old

FOX61 Family First: How much and at what age should your children start earning an allowance?

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

HARTFORD -- Money. They say it can't buy you happiness, but try telling that to a kid. If you're a parent, and you're about to embark on the money train known as an allowance, you probably have questions.

Like: Why?

"If you're a parent looking to teach, you always have to ask: what are you hoping to do? What are you goals and objectives?", says Robert Keder, a Developmental Pediatrician at CCMC, "If your goal with allowance is to teach your child how to use money, then you want to think 'how do I do just that.'"

Meaning, if you're trying to get them to do chores, then that's not teaching them money management, that's teaching them to do chores and get money. Just as important, is the age -- as in-- when do you start the allowance experience in your home?

There's never a magic number for when to start. It all depends on the behavior of the child.

How much a child should get is a discussion for the family, and all families are different.

Children as early as preschool can determine the difference between something they want, and something they need.

Notice: you are using an outdated browser. Microsoft does not recommend using IE as your default browser. Some features on this website, like video and images, might not work properly. For the best experience, please upgrade your browser.