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Allowance
Trying to decide if you should give your child an allowance?
Consider this. Have you ever noticed that guests who select moderately priced food at a restaurant when they are paying, select more items and more expensive items when someone else is paying? This is the "if you're buying, I want steak" principle.
People tend to make different choices about goods and services they consume when the cost of those choices are borne by others.
Youngsters are no different. They'll spend your money with unbridled abandon. When your money becomes "theirs" through an allowance, take a breath, sit back, and expect to see different spending patterns emerge. |
