Start a yearly “review” right before school year. Raise allowance as appropriate. If they want more money, they’ll have to take on more responsibilities.
Beware that when you’re first exposed to a new thing: a car, a college tour, house, etc. you will feel AMAZING and totally seduced by the shiny newness. Be cool. Remember that glitters is not gold. Things don’t need to be perfect and even if the house is it doesn’t mean life will be.
Set up automatic payments so they are initiated on your end, so that you send out money to the bill/ company you’re paying instead of giving them access to take money out of your account.
***Manners!! *** Etiquette is the secret sauce. Everyone appreciates being treated with respect. Etiquette is the art and science of respecting others. It’s timeless and universal. Customs change, hence the need for constant study, but respect is always the foundation. In summary: Be nice. Start with yourself. Study etiquette. It will help you in every single interaction you have, social, professional, financial, everything. Manners apply to every human, in every interaction, even on the hard days. Hence, the need for practice.
Failed?
Lift yourself up, or live there.
You know the work you need to do, be it physical, mental, emotional or spiritual, etc. So do it. Do the work.
The only bitterness in failure comes from not having the guts to get back up again.
Check out from the library or Amazon: “My First Money Book: A Guide for Parents and Children to Saving, Spending, Sharing, and Investing Your Money” by Reggie Nelson
Don’t have a clue? (Relationships / career / character, etc.) The solutions can be found in books. READ! Novels, biographies, history, religion, humor, politics, finance, sports, and whatever sparks your interests at the moment!) You’ll learn about the world, and you’ll learn about yourself. READ!!!! (or listen!)
Be discerning about your sources of information. Some red flags: Too good to be true. Get rich quick. Chosen race. Any race or group blamed for societal problems. Fear of change. Threats of real or metaphysical harm (I.e. $@!#%) or bribes with reward.
Practice “going without.” Talk about how nobody gets what they want all the time. We should learn how to just choose to go without something we want. Get them in on the discussion and pick something every day to do without.
Start saving money early. Save as much as you can.
There are plenty of things worth spending your money on, but be mindful about your money - Don’t p*ss it away.