As my kids grew up they had 1 penny per year old that they were, [8-year-old = 8 pence, 6-year-old = 6 pence] per fortnight [I was paid fortnightly] the penny would have been 50 to 75 cents worth today.
The local dairy was on our side of the road, within toddling distance, and they were allowed to spend their money on lollies, but they had to budget to make the money last until next payday. [pig out now and starve for two weeks, or, 1 or 2 lollies a day until next payday]
Birthdays then became a looked forward to day, it came with a pay rise.
Now, with the youngest turning 50, they have all learned the valuable lesson.