Hello mate! Nice questions you have there. Well for me, i always tell my kids to save money from their daily allowances. Aside from what i give to them as their daily budget, they also have funds coming from their auntie who happened to be in the other country. The money goes directly to the bank and my kids use the funds in case of emergency and not for luxury. I think kids nowadays should be taught how to spend and budget their money wisely.:)