Reading all these makes me so glad my parents let me learn from my mistakes. Not that I made many; or big ones, but I'm a firm believer in letter your kids do their own thing, and if they mess up, hopefully they won't again. That's how I was raised, but I see and hear so many of my friends and co-workers who arent able to do that, and insist on doing everything for their kids. And its not doing them any favors. They are completely unprepared for real life.
I'm reminded of an episode of the Cosby Show, when Theo is tired of the rules, and talks about how he can't wait to move out, and live on his own, and how wonderful it will be! So (if I recall) his father gives him fake money and says, this is what you earn. Theo is thrilled! Then he takes some away for taxes. And some more for rent, and some more for utilities, and so on, until Theo is left with almost nothing.