>One of the best ideas I ever heard to teach money management is that when the kid is old enough to understand how to budget, give them a big enough allowance and tell them it's their money for fun and clothes. If they spend it all on fun, they can't buy new clothes. Also teach them that x% has to go to savings and another x% to charity.

We started each of our kids on a clothing allowance around age 13. Enough that they could make it work, but small enough that they had to learn to shop smart. It worked very well and lowered the stress around clothes shopping dramatically.

Tamar