One thing I have always loved about the way my parents raised me is that I never had to rely on them for money. It’s not that they made me get a job, even though I did have my fair share of those; it’s just that they made up a system that allowed me to feel independent and have control of my own little funds.

Every month, my parents would give me $100 as an allowance, and I could do whatever I wanted with that money–go out with friends, buy new clothes, or save it up for other occasions. I had to pay for everything that was a ‘want’, and what counted as a ‘need’ would be funded by my parents. That system worked great for all of us. My parents didn’t have to monitor any of my expenses, and I felt independent enough to make decisions with my own money.

Even though it was great for me, finding a system that works best both for the parents and the children is not as easy as it sounds, and many parents struggle with it, just like the mom in the story below. When she offered to pay one of her kids ‘rent’ to use their bedroom as a home office, she was immediately accused of treating them unfairly…