I think most of it is fine except for the part where you hold the money (except for really young kids <7). I had a little box where I stored money as soon as ki

I think most of it is fine except for the part where you hold the money (except for really young kids <7). I had a little box where I stored money as soon as kid. My dad gave me a $5 weekly allowance until I was like 10. I learned to manage my own money and not rely on him tracking it... this led developing my own accounting and budgeting practices. Realistically letting the kids control their money gives them a bit extra feeling of independence without giving up much control... Most kids can't go anywhere without you being around until they're a teen and at that point it's a very different game. My dad always liked to ask me if my "money was burning a hole in my pocket" when he thought I was about to buy something stupid... He wouldn't stop me, but he did act like an advisor leaving the control and choice ultimately in my hands.