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Episode 303: Allowances vs. Lending

The fundamental mistake most parents make with money—giving allowances that create consumers instead of using lending that creates capitalists. If you're giving your kids an allowance every week, you're teaching them to be employees waiting for a paycheck, not entrepreneurs who understand how to control and deploy capital strategically. Here's what most parents don't realize: "An allowance teaches dependency teaches them money comes from someone else on someone else's schedule teaches them to consume what they receive not think strategically about capital, but lending teaches them how the…

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