allowance
Posted By: cj on 2008-07-21
In Reply to: Allowance - jss
My kids are older. when they were younger, they always got an allowance, but it never depended upon doing chores. They lived in the house so they had to help with the work of maintaining the household with or without allowance. I did not want them to think they were being "paid" for doing their share of the household chores. Their allowance was simply to help the learn to manage money responsibly and not in any way dependent on performance of any tasks.
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Allowance Poll: Do you give your kids an allowance?
Just wondering how many out there give their kids a regular allowance. My daughter, who will be 7 next month, has been begging me for chores to do around the house so she can earn a little money. We agreed to try it out and made her a chore list stuck on the fridge for her to check off as she completes each chore. It's not very much to begin with but we will add on more later. My husband and I haven't really decided on how much to give her each week. I thought $2 or $3 a week would be appropriate for her age. We're really just trying to teach her about responsibility, not make her rich!
For others giving allowance, how much do you give and what responsibilities do you give to your kids? Thanks for your input!
Allowance
Looking for suggestion/ideas for allowance. My son is 10, definitely pre-teen. We used to do a chart and so much $ for each item on the chart at the end of the week. He decided he didn't like the chart anymore so we stopped it. He still has to do stuff and was in a really good routine for a while but now with summer here has slacked off again. Of course he wants to do/buy all kinds of things but has no money of his own and when encouraged to earn some money before he needs it - well, he just cannot seem to grasp this concept. I'm thinking a flat amount each week and he needs to take the initiative to do or ask what needs to be done and can make his own list or note if he feels he needs it. Then at the end of the week we can + or - to the amount accordingly. If he's told to do something and doesn't ask, he doesn't get paid for it no matter how good he does the task. Thoughts/suggestions/ideas???
Yes, always gave our kids an allowance.
They are 19, 18 and 17 now. The eldest has had jobs since he was 16, so we stopped paying an allowance then. Younger two get enough money to cover school lunches for a week, plus about $10 spending money. $10 spending is not a lot to a teenager, so when they started to complain, we taught them to budget, save, and work. They started with allowances and a chore chart around age 5. Back then .50 cents and putting away toys was all it took. We advanced it as age appropriate.
They aren't always perfectly responsible with their money, but they've got the idea and have some good financial habits. Our eldest went to community college for a year and paid his own way. Now that he's transferred to a state university, we're picking up tuition, room and board. He worked all summer, budgeted, and was able to buy his books and a new laptop for school.
I think allowances are good teaching tools.
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