Handing a 10-Year-Old the Family's Cash

Critics called it reckless; she called it a life lesson.

An Australian mom was blasted after giving her 10-year-old daughter, Rangi, $750 to manage the family's two-week budget. Despite fears she'd blow it, Rangi responsibly bought groceries, budgeted for fun, and even saved money. The early lesson in financial literacy paid off, as a teenage Rangi now expertly manages her own money.