Giving allowance is an American tradition that picked up steam before the start of the 20th century. As there was more stuff for youngsters to buy, child-rearing experts started to tout allowance as a way to instill good spending habits.
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If it's "their" money, shouldn't they be rewarded for saving by being able to buy what they want? Er... no. We wouldn't allow our kids to buy endless amounts of tooth-rotting candy, would we?
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