The New York Times reports that PayPal has come out with a service for teens and parents, where teens can have an account, spend money and parents can monitor all of it. I think this is a great way for parents (*cough* like me *cough*) to have an easy way to pay allowance and for kids to learn about saving and spending. I suppose you could do this with a regular bank and have access to the account online, but this seems easier somehow.