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Parenting Tips on June 17 Fox 4 Morning News: What to Allow With Allowances

How you handle giving an allowance can influence how your child thinks about money, and can impact how successfully he or she handles money as an adult.  Tune in Tuesday to hear the Fox 4 Parenting Expert’s practical ideas on how to introduce your children to allowances.

The pros of an allowance

• Promotes independence and responsibility
• Teaches the value of money
• Creates an atmosphere to encourage planning and setting goals
• Teaches children to learn from mistakes

When giving an allowance

• Give on regular basis
• Don’t link it to chores
• Have a goal to learn to save
• Let kids see you save, involve them

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