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Jessica Roderick gives each of her three children a quarterly allowance

Around back-to-school time, she raises their allowance to $750 to account for clothing and supplies

She explains to PEOPLE how teaching financial responsibility from a young age has affected the way her teens spend money

When Jessica Roderick’s youngest child turned 7, she began giving each of her three children a quarterly allowance of $500 — a bold parenting move aimed at teaching financial responsibility.

Now, with back-to-school season underway, the 38-year-old from Tampa, Fla., gives each of them $750 to buy their own supplies, clothes, and other essentials, with minimal restrictions.

Using a kid-friendly debit card and beginner investment tools, the children are learning to track their spendi

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