From a monthly allowance to grade money to my first checking account, I owe all of my amateur financial knowledge to my parents’ teaching.
When I was nine years old, my parents began to give me a monthly allowance. They told me that my money was my own, and that I could spend it on whatever I wanted. This did a lot to teach me about the value of my money.
When middle school report cards came out, my parents began to reward me with ten dollars for every A I got. This taught me that with hard work comes a tangible reward.
In order to collect my allowance every week, my chores had to be finished by the time my mother came to check them on Sunday. This not only held me accountable to a solid deadline, but also put a value on my chores.