How to Master the Allowance Question and Prepaid Cards in One Shot

http://business.time.com/2013/02/15/how-to-master-the-allowance-question-and-prepaid-cards-in-one-shot/?iid=biz-main-lead

Some years ago I was looking to set up a simple third-party automated allowance system for my three children and discovered that banks could be a costly facilitator. The fees for sub-accounts and weekly transfers were ludicrously high, given the small amounts of cash involved.

But I was determined to get out of the business of handing cash to my kids either weekly or upon request. I was equally determined to put the kids on a budget and in charge of their own spending decisions, believing it to be the most effective financial teaching tool in the universe.

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