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Four years of age is too young for an allowance; or pocket-money as we used to call it back in Ireland when I was young. You would not allow them alone into a shop to spend it, so why what use is it to them? Having said that, you could give them an allowance, beginning at this early age, but simply create a savings account for them so they will have a little nest-egg for later.
Anyway, my main point relates to a TV documentary I saw several years ago. To cut a long story short, it was a biography of John D Rockefeller. When he was growing up, his parents gave him an allowance, but made him save a third, give a third to charity and left him a third in ready cash to spend. This has always stayed with me and I think it's a marvelous idea; one that I intend to follow with my own kids.
Four is too young to give them money. Set it aside for them in a savings account.
Mr Mephisto
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