I can remember growing up and being one of few friends who never had an allowance.

Other children got money for doing chores, doing well in school, and some got it for just existing basically. I felt like I also deserved money for helping around the house. If my friends could get money every week for completing basic chores, why couldn't I?

As I've grown older, I can completely understand why my parents never gave me an allowance, and I know that I won't ever give my children allowances.

It's important to teach children about money, hard work, and being grateful for what you've earned. While it's important to teach children these things, allowances can make it harder for kids to grasp them in the long run.

Baby boomers will cry that kids get participation trophies for everything and be rewarded with things they didn't earn. These people are the same ones who'd reward their children with money for doing simple tasks they should be doing already.

Cleaning the dishes or doing laundry are everyday tasks. It's something you are expected to do throughout your life and brings no reward other than the satisfaction of having clean things again.

No one is given $10 because they held a door open for others or said "please" and "thank you," so kids don't need to be given $10 because they did chores. Chores are expected of people, the same way manners and respect are. You're earning something for doing what you should in the first place.

Children don't need to be given a prize when they didn't do much.

If a child works hard in school and earns very good grades, rewards are acceptable as the kid starts to learn that working hard means getting something good in return. It's the same thing as working hard at your job and being 'rewarded' with a paycheck.

Kids don't need to be given money for everything they do right.

It teaches them that they need to be praised and rewarded for every accomplishment and good deed. Kids fail to lean that sometimes the only reward they'll get is their own satisfaction and nothing more.

You don't need to dish out $40 a month to teach a kid about saving or income. Let them learn how to save on a large scale with their Chuck E. Cheese tickets. Let them learn about income when they take on a minimum wage job in their teens.

Stop shelling out money every week even though your kid did nothing.

Stop saying we need to quit handing out participation trophies, but reward your child when they do the bare minimum or simply living.

If you want to teach your kids about money and help better them, instead of handing money straight to them, put it in a college fund, donate it to a program they're a part of or an organization they support. You can help pay club dues and invest in their hobbies and interests. Money can go places other than their pockets.

They should be supported when they work hard, not rewarded just because they exist.