Allowances for vacations: Should parents give their kids cash?

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If you took a summer vacation with your family, you were probably hit up for cash by your child constantly, like you were a living ATM.

What advice would you give another parent?

A couple of ideas on helping children spend wisely:

Ages 11 to 13: Make your child chip in some of his or her savings for any purchase.

Ages 14 to 18: Hand your child a prepaid debit card. Cap his or her expenditures at the amount you've stored on the card.

What lessons did you learn this summer—or on vacations in the past—about kids and money?

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