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<<Note to self: When you have children, Heather, be sure to allow your children to participate in all financial discussions as they are growing up so they don't make the same stupid mistakes>>

My 8-year old son has recently begun asking me for an "advance" on his allowance. I actually gave him a two-week advance once. But when he asked for another one, a bell went off. I told him that this was how people got into debt, that if he did this when he grew up, he'd actually have to *pay* extra for spending money before he had it, and that I wanted him to save for 2-3 weeks instead and then buy what he wanted. He hasn't asked again.


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