Allowances

According to Practical Money Skills for Life ...

"A lot has changed in child rearing since the "Leave it to Beaver" days. 

Back then, parents were more likely to make all major purchases for their kids, and an allowance - if they got one at all - was usually spent on comic books and candy or socked away in a passbook savings account.

Fast forward to today, where some experts estimate kids under age 12 spend over $30 billion a year themselves and influence another $500 billion in purchases.  It's not uncommon today for teenagers to have access to their parents' credit cards, and some feel that the ease and availability of online purchasing may render cash more or less obsolete."

Click here to read the rest of the article.  You will find some good advice and tools including an Allowance Calculation Calculator.