Parents and Loss: ‘WSJ’ Examines Allowance

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Photo: iStockphoto.com

There's a piece in today's Wall Street Journal about the difficulty of budgeting kids' allowances in the age of a cashless society, and it's unsurprising to learn that the ease of iTunes-esque online shopping has driven some parents to prepaid debit cards and Excel spreadsheets to prevent their children from bankrupting the family with RuneScape. (Actually, wait, it does surprise us a little. Do earbuds prevent kids from hearing "Go outside and play"?) More interesting is the accompanying charticle, which has revealing info on the allowance-giving habits of some notable New Yorkers. To wit: The toy-flush CEO of FAO Schwarz hasn't gotten around to setting an allowance for his daughter, the kids of Pitney Bowes CEO Michael J. Critelli earn "market price" for those chores they choose to do, and Charles Schumer's offspring receive an "undisclosed bi-weekly sum." Bloomberg's predilection for massive "donations" to younguns? Unconfirmed.

Allowance 2.0 [WSJ]