How do you teach your child/ren to manage money? If you give an allowance or let them earn money for chores, do you make them set aside some of it for saving or giving?
I have read a few sources that said you should allow your child to do whatever they want with their money, and then they can learn from experience. If they want something more expensive, and don't have the money for it, then they don't get it and then they learn the value of spending.
However, if you have a more impulsive child that would rather just spend the money the moment its put in their hands, will they ever learn to save that way? At what point with this issue should parents step in, and when should they just back off?