When my oldest son was about five, we launched our allowance system that incorporated four piggy banks. Taking a cue from Dave Ramsey, we set up piggies for long-term savings, short-term savings, spending money, and charity.
That system served us well for eleven years. My youngest son just joined the allowance crowd (as his older brother is about to turn sixteen and, God-willing, find a “real” job), and it was time to overhaul the system.
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