I believe that good financial habits are the foundation to happiness and success in life. Furthermore, although they are best learned during childhood, it is never too late to acquire good financial habits .
Saving is a learned habit. Allowance is a good tool to teach children how to manage money. A rule of thumb is to give your child a weekly allowance equal to half his age. So, for example, a ten-year-old would receive a weekly allowance of $5.00. Stipulate that some portion must be saved or put aside for the future.
Hazel Fluke, Financially Speaking 