A monthly allowance offers more money, more time, more responsibility

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Many parents give their teens a weekly allowance. To help your teen learn to budget for the real world, consider changing the schedule to monthly. Your teen will have to learn to manage a larger sum of money over a longer period of time. She may make mistakes at first, like spending her whole allowance the first week. Don’t bail her out. Facing the consequences will help her make wiser choices next month.