Find Information About:

Drugs & Supplements

Get information and reviews on prescription drugs, over-the-counter medications, vitamins, and supplements. Search by name or medical condition.

Pill Identifier

Pill Identifier

Having trouble identifying your pills?

Enter the shape, color, or imprint of your prescription or OTC drug. Our pill identification tool will display pictures that you can compare to your pill.

Get Started
My Medicine

My Medicine

Save your medicine, check interactions, sign up for FDA alerts, create family profiles and more.

Get Started

WebMD Health Experts and Community

Talk to health experts and other people like you in WebMD's Communities. It's a safe forum where you can create or participate in support groups and discussions about health topics that interest you.

  • Second Opinion

    Second Opinion

    Read expert perspectives on popular health topics.

  • Community


    Connect with people like you, and get expert guidance on living a healthy life.

Got a health question? Get answers provided by leading organizations, doctors, and experts.

Get Answers

Sign up to receive WebMD's award-winning content delivered to your inbox.

Sign Up

Tips and resources for healthy family routines -- for your mornings, during your daily schedule, and on to bedtime.

Guest Expert Photo

WebMD Expert Discussion: Kids and Money: Is it Time for an Allowance?

Should your 5-year-old get an allowance? How much? Should he get a few dollars a week, with no strings attached? Or should the allowance be based on him performing certain household chores?

It’s never too early to start teaching a child about money management, says WebMD's guest parenting expert, Tanya Altmann, MD, in the online discussion about Healthy Family Routines. If a child is old enough to say “I want that!” they’re old enough to learn that things cost money.

The decision about whether or not to give a child an allowance -- and at what age -- is a decision that varies from family to family. Altmann offers a few money lessons that can be good for different age groups:

  • Preschoolers: Give your child a piggy bank and help them deposit a few coins in it from time to time. You might be able to start teaching them how much different coins cost around age 4.
  • Grade-schoolers: Start talking about saving, spending, and donating. Help your child set savings goals for things she wants to buy.
  • Tweens: This might be the time to increase your child's allowance. Help him think about short- and long-term savings -- saving for a new video game or an electric guitar vs. saving for college.

Altmann states that, even in the tween years, parents should continue to supervise their children's spending and help guide them as they learn how to make good financial choices.

What methods have you used to teach your child about money? How do you teach your child to set financial goals and plan for the future?

Discussion led by Tanya Altmann, MD Guest Expert
Next Article:

Guest Expert What is a guest expert?

Tanya Altmann, MD, FAAP, is a best-selling author, a working mother, and a UCLA-trained pediatrician, practicing in Southern California.

Read Profile

Healthy Family Poll

Which of these family routines is the most challenging?

View Results