Stop The Allowance To Beat Debt?
Which is more important ... doing the debt snowball or doing it while giving the kids allowance?
QUESTION: Listener has seven kids, age 10 years and younger. She wonders if they should stop allowance while getting out of debt.
ANSWER: I wouldn’t stop that. I would continue that, although I don’t like the word allowance. We had our kids on commission. Allowance is a victim word. Put them on commission and have them kill it and drag it home. Then they get some money.