Parents often struggle with whether or not they should give their kids an allowance. On the one hand, you want to teach them the importance of work ethic and the benefits of saving, but on the other, you don't want them too focused on money too early on in life.
Thanks to one resourceful family, we can all rest easier knowing one allowance system that teaches children far more than simply the value of a dollar.
On the popular Humans of New York Facebook page, a boy explains how his $1-per-week allowance program works.
"There are four sections: spend, save, donate, and invest," he says. Read more about how each category comes into play, and what it's taught him about giving back, in the post above.
Do you think you'll try this type of allowance with your kids?