Monthly allowance for 15 year-old

Do you remember the first time you spent your own money? Felt good, didn’t it? Receiving your first allowance is a rite of passage. Not only does it mark a new phase in the parent-child relationship, one that’s evolving away from constant supervision toward more freedom of choice, but it’s the first time your kids might handle money of their own. 

Entering the world of chores and allowance with your kids comes with responsibility and a few very important teachable moments (this is money management, after all).

But guess what? It doesn’t have to be complicated. 

In this guide, we’ll break down why kids should have an allowance, how chores and allowance go together,what age to start an allowance, the three types of allowance, amount of allowance by age, and how to talk to your kids about financial literacy. 

We’ll also look at how a money management app for kids, like Mydoh, makes beginning a weekly allowance or monthly allowance easy by letting parents set up regular allowance payments from their account to th