Why I Pay My Kids an Allowance — and You Should Too

When it comes to paying kids an allowance, there’s a lot of disagreement over the best way to go about it. When to start paying allowance, whether to tie it to chores, and how much to pay are all matters up for debate.

There’s one thing, though, that financial experts agree on and studies support: Giving kids an allowance is a great way to teach them how to handle money.

Freelancing? Here are four ways to avoid a tax audit

“There are certain types of jobs where its obvious you’re self employed,” Robin Taub, a chartered professional accountant and spokesperson for software provider TurboTax told Yahoo Canada. “But with this newer sharing or apps-based economy, some people may not realize that what they’re making is income and they have to report it.”

How to Teach Your Kids to Be Responsible With Money

If you’re not teaching your kids about money, who will? If it’s someone else, are you comfortable with what they’re teaching? Parents need to be a part of the learning process, so here are ways to help your children avoid money mistakes and learn to be responsible with money.