Child holding dollar bills

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Put Money in Your Child's Hands
Give your child a cash allowance every week in return for completing chores and extra work around the house, Thomas says. "If [money] is not in their hands, it is not in their minds," Thomas says. Once they have cash in hand, Thomas says a child will be able to see that "I had to work for this money, and the money works for me."
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The information provided here is general advice and you should always consult your own financial adviser before making major financial decisions, including investments or changes to your portfolio. The opinions expressed by the hosts, guests and callers to Oprah Radio are strictly their own.

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