Allowance: How much is too much?

Guest: Ron Lieber, Tracie Miller-Nobles

A new study shows that of the kids who are given a weekly allowance, the average amount is $30. Does this number come as a shock to you? Today on the show, we’re going to explore the rights and wrongs of giving kids an allowance and how it can affect their financial literacy later in life. We’ll start by talking with TRACIE-MILLER-NOBLES, member of the American Institute of Certified Public Accountants who conducted the survey. Then, we’ll get some tips about the best practives in raising financially literate kids when we’re joined by New York Times columnist and money management expert, RON LIEBER and author of The Opposite of Spoiled: Raising Kids Who Are Grounded, Generous, and Smart About Money.