Children may only earn a few dollar bills or some coins each
week, but their excitement when they have their own money to
spend can be seen in the candy aisle or the toy store. The
youngsters spend time picking up different sweets or toys,
counting out the money in their pockets and asking Mom how much
they'll have left over. Financial experts consider an allowance
one of the best ways to teach a child about money, because it is
often the first time a child gets to make decisions about what
to buy and what to do with money. But when should an allowance
begin? "When the kids start getting interested in money and
using money to buy things," said Dr. Jon Gallo, coauthor of "The
Financially Intelligent Parent." Gallo said this could start as
early as 5 years old. However, many children might not be ready
to handle money until they're a little older, according to Susan
Beacham, cofounder and CEO of Money Savvy Generation, a website
that hopes help kids get smart abount finances. Beacham said 8
years old is a good