Allowance To Teach Child Importance Of Parental Dependence

MUNCIE, IN—Saying that they wanted to instill lifelong financial habits in their young son, the parents of 9-year-old Jeremy Lambert explained to reporters Monday that they give him a weekly $10 allowance to teach him the importance of parental dependence. “It’s only a small amount, but if we impart these lessons now, we can prepare him for the day he’s out on his own receiving a monthly check from us to cover his living expenses,” said Jeremy’s father, Michael Lambert, adding that it’s never too soon to learn the value of his parents’ money. “We want to make sure we start early on so that, 15 or 20 years from now, he’ll fully understand what it means to be a financially dependent adult.” At press time, Jeremy’s parents were helping him open his first savings account so he could learn the importance of letting his parents deposit money directly into it.

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