[originaltext] Many children first learn the value of money by receiving an

Many children first learn the value of money by receiving an allowance. Parents often give their children an amount of money that they may spend as they wish. The purpose is to let the children learn from experience at an age when financial mistakes are not very costly.
    A child may receive an allowance each week or each month. The amount is not so important. But parents should make clear what, if anything, the child is expected to pay for with the money.
    At first, young children may spend all of their allowance soon after they receive it. If they do this, they will learn the hard way that spending must be done within a budget. Parents should not offer more money until the next allowance is to be paid.     
    Older children may be responsible enough to budget larger costs like those for clothing. The object is to show young people that a budget demands choices between spending and saving.
    And paying children to do extra work around the house can be useful. It can even provide an understanding of how a business works.
    Allowances give children a chance to experience the three things they can do with money. They can share it with others. They can spend it by buying things they want. Or they can save it.
    Saving helps children understand that costly goals require sacrifice: you have to cut costs and plan for the future.