Sir Rod Stewart sees his wife Penny Lancaster as his "moral compass".

Sir Rod Stewart's wife is his moral compass

Sir Rod Stewart's wife is his moral compass

The 76-year-old singer has revealed he turns to his wife whenever he's deciding how much money to give to his kids.

The 'Maggie May' hitmaker - who has Alastair, 15, and Aiden, 10, with Penny - shared: "I go to my moral compass and I ask my wife. She won't let me give them a $100 bill."

Rod explained that he'll sometimes place a bet with his kids over things they can do on the soccer field.

He told People: "We call it crossbar. You got to kick the ball in it, at the bar at the top. And I was like, 'First one to get three, gets $100.' [My wife] comes out, she says, 'What are you doing? $100? Make it five.'"

Rod - who also has Sarah, 58, Kimberly, 42, Sean, 41, Ruby, 34, Renee, 29, and Liam, 27, from previous relationships - thinks it's important to teach his kids the value of money.

The singer is ultimately determined not to "spoil" them.

He said: "I give them a little bit, because I say, 'Listen, you've got to learn the hard way. Do it the hard way like Dad'. I'm not going to spoil them. And yet, there is a fine line between denial and spoiling, especially when it comes to Christmas."

Meanwhile, Rod recently revealed that he thinks he was "too young" to get married when he was 34.

The rocker acknowledges that he "wasn't ready" to tie the knot with Alana Stewart in 1979 because he still had a lot of "partying, drinking, and s*******" to do.

Rod - who divorced Alana in 1984 - said: "When I told my dad I was getting married, he said, 'You're far too young.'

"He was right. I still had a lot of living, partying, drinking and s******* to do."

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