Thinking about creating an iTunes allowance for your kids this holiday season? If they’ve got an iPhone, iPod touch, or iPad you may not want to give them unfettered access to your own iTunes account (Justin who–!?! Smurfberry what–?!?!) but do want to let them learn a little about personal finances and opportunity cost. iTunes allowances can be a great middle ground and we’ll show you how to set one up, after the break!

* Launch iTunes on your Windows or Mac computer
* Click on the iTunes Store in the menu on the left
* You will see the Quick Links menu on the right hand side of the iTunes Store
* Click on Buy iTunes Gifts
* Scroll down till you see Allowances and click set up an allowance now
* Fill in the form and voila you have set up an allowance for your kids to use

[via here]