I haven't quite figured this one out yet. I'm inclined to say that chores should just be a basic responsibility, and the kids won't get paid for doing them. But I haven't quite worked out how the kids are going to earn their money so that they can learn how to budget and save. Growing up, I had a paper route from when I was pretty young but that doesn't really work since nobody gets the paper anymore. Plus we live in the city.

I'm not opposed to setting up an allowance, but I also don't love the idea of free money. But I don't have much experience with allowances, so I'm open to the idea if it teaches kids how to budget and save.

How will your little ones learn the value of a dollar?