The Best Way to Set Up an Allowance

An allowance only works if it's structured. Here's a setup that lasts.

Decide These 4 Things

1. Amount — a common rule is $1 per year of age, per week
2. Frequency — weekly works better than monthly for younger kids
3. Tied to chores or not? — both work; just pick one and stick with it
4. Save / spend / share split — try 50/40/10 to start