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

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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.

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