Do you give your children an allowance? Do they have chores to do to earn it or is it just so they can have their own money to budget and spend? Just as with any parenting issue, there are so many ideas surrounding this. I have two children; almost grown at this point and they have earned an allowance from a very young age. I have also been careful to model thoughtful financial behavior. When they were young, I was very cognizant of going to the ATM. Would they think that money just came out of that magic machine?