The great allowance debate roars on, and may have moved to a whole new level with a personal-finance scholar’s recent assertion that a “regular, unconditional allowance may be akin to cruelty to children.”
As a teaching tool, allowance isn’t just ineffective — it’s detrimental. So says Lewis Mandell, professor emeritus of finance and managerial economics at SUNY Buffalo.
Mandell is a pioneer in the field of financial education, and for a couple of years he has been questioning the educational benefits of kids receiving a regular allowance...
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