Rima Grace

For a lot of families, giving kids an allowance is kind of a milestone, first attempt at teaching them how money works.

For a lot of families, giving kids an allowance is kind of a milestone, first attempt at teaching them how money works.

A Wells Fargo survey from last year found that more than 70 percent of respondents gave their kids some type of allowance.

A Wells Fargo survey from last year found that more than 70 percent of respondents gave their kids some type of allowance.

Though as times change, so too do the forms of payment.

Though as times change, so too do the forms of payment.

Michael Waters is an author and journalist who had a story in The Atlantic titled The New Allowance.

Michael Waters is an author and journalist who had a story in The Atlantic titled The New Allowance.

Michael, thanks for joining us.

Michael, thanks for joining us.

Thank you for having me.

Thank you for having me.

Okay, so I don't know about you, but my memory of an allowance was my parents handing me, you know, five, ten dollars every few weeks.

Okay, so I don't know about you, but my memory of an allowance was my parents handing me, you know, five, ten dollars every few weeks.

It sounds like these days some families are using apps that are making allowances a lot more financially involved.

It sounds like these days some families are using apps that are making allowances a lot more financially involved.

What sorts of things are we seeing?

What sorts of things are we seeing?

What we've seen in recent years is this pretty significant and kind of under-noticed shift to more technology-based allowance payments.

What we've seen in recent years is this pretty significant and kind of under-noticed shift to more technology-based allowance payments.