Allowance Tips for Parents: How Much to Give, When, and Why | Robin Taub

Allowance isn’t just pocket money, it’s one of the best ways to teach kids real-world money skills. In this episode, Christi sits down with Robin Taub, author of The Wisest Investment, to talk about how parents can use allowance as a practical tool for raising financially confident kids.You’ll learn:- Why allowance matters and how it helps kids learn responsibility, independence, and decision-making.- Ages 5–8: How to introduce allowance and simple lessons about earning, saving, and spending.- Ages 9–12: How to evolve allowance as kids start setting goals and managing bigger spending decisions.- Ages 13–17: How to use allowance to teach budgeting, smart spending, and preparing for financial independence.- How to avoid common allowance pitfalls — and keep money conversations positive, not stressful.Whether you’re just starting out or rethinking your family’s approach, this episode will give you the tools to turn allowance into your child’s first — and wisest — investment.Show Links:https://www.thewisestinvestment.com/https://robintaub.com/https://www.instagram.com/robin.taub/https://www.facebook.com/RobinTaubFinancialConsultinghttps://www.linkedin.com/in/robintaub/Chapters:00:00 The Power of Allowance02:37 Should Allowance Be Tied to Chores?04:20 Determining Allowance Amounts06:05 What If Families Can't Afford an Allowance?07:11 Digital vs. Cash Allowance09:47 Starting Allowance: Age and Method11:50 Stop Allowance When Teen Gets a Job?12:56 Shifting from Allowance to Budgeting14:03 Aligning Financial Personalities with Values17:33 One Step to Take this Week