Column: The 5Cs to follow when setting your kids’ allowance

Editor’s Note: The following is an excerpt from Beth Kobliner’s new book, “Make Your Kid A Money Genius (Even If You’re Not).” For more information, tune in to tonight’s Making Sen$e report, which airs every Thursday on the PBS NewsHour.

“We suck at allowance.”

That’s the gist of what most moms and dads tell me sheepishly when I ask about the subject. They admit that they don’t have a system that works effectively and fret about being horrible parents. “We started in...

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