Michael Schumacher [Images] is one of the world's best-paid sportsman but the Formula One world champion is a cheapskate when it comes to his children's pocket money.
Schumacher, whose annual earnings are estimated at $80 million, gives his eight-year-old daughter Gina-Maria and his son Mick, who is six this month, two euros ($2.64) a week each.
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"They have to learn wealth isn't automatic," the German Ferrari [Images] driver told Stern magazine in an interview."They get, just like other children, two euros allowance per week. They can either save it or buy something they really want with it."
But Schumacher added that lavish presents did sometimes slip through, saying his father got a mini go-kart for the children a few years ago.
"In the meantime they've both become good drivers," Schumacher said.
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