Kids watch how we spend money on ourselves and compare that to how we allocate it to them. I have an opinion.
Double standards are unfair and counter-productive.
That's why it's called an allow ance. Youngsters who see their parents routinely going into hock for stuff they don't need, will have a hard time understanding why their wants can't also be immediately satisfied. The example you begin setting now, on how to spend, save, and earn money, will make a difference. Explain the difference between wants and needs. Teach your children that food, shelter, and clothing are on the short list of human needs.