Kids benefit from learning about money as early as possible. Even while living rent-free and eating free food, kids are learning how to relate to cash. An allowance for kids can do a lot to help, providing children with the opportunity to experience — on some level anyway — fiscal responsibility. Whether an allowance rewards chores or simply facilitates purchases, giving kids a small amount of money to manage has long been shown to be a good investment.

Fatherly built this guide to allowances to show the ways that they’re more than dollars and cents, and how you can give your some money without spoiling them. We talked to family economists, child psychologists, and veteran parents about the best ways for kids to make money, when to withhold allowances, how to draw up a personal allowances worksheet, and more. Just don’t spend it all in one place.