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In the 1980s, when my teens wanted spending money of their own, they found jobs after school and in the summers. They worked in our town in pizza shops, the local movie theater, vegetable stands, and as lifeguards. Minimum wage in those days was under $5 an hour.
Once working, they were expected to put half of each paycheck into savings. They were then free to do what they wanted with the remaining money. We co-signed checking accounts for them and later co-signed for a credit card with a low limit, on which it was expected they pay anything charged. With low-paying jobs, our teens learned the basics of money management and the expectations of employers. They gained some monetary independence.
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