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Old 10-05-2006, 05:37 PM   #1
barbmouse
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Kids and allowances!!!!!!!

Anyone have good advice on this topic?? Do you link allowance and chores or not? Anyone know what Dave Ramsey and other gurus recommend?
Please share!! My dks are 9 and 13.

My dks use their own money on their Disney souvvies...we usually purchase each a t shirt then anything else they want they use their own $$.
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Old 10-05-2006, 05:50 PM   #2
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I do not have kids, so no opinions about this myself, but ... Dave Ramsey does suggest linking allowance with chores to teach kids the value of money. My father did the same thing. $5.00 out of his pocket meant nothing to me ... but $5.00 earned for cleaning out the garage: that was alot of money!
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Old 10-05-2006, 06:12 PM   #3
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Our kids are younger, but they get 50 cents for each year old. 10% automatically comes off the top for them to give at chapel, another 10% goes to savings, the rest is theirs. They have certain chores they are expected to do each week...clear the table, take care of trash, keep their rooms and clothes picked up, etc. It has worked out quite well for us.
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Old 10-05-2006, 06:29 PM   #4
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I've always heard a rule of thumb is how old they are is a week's allowance. We changed last year (they were 12 and 14 at the time). We gave them each $15 a week but they had to pay for school lunch out of it or make their own (Not Mom make it). Thrifty daughter made her lunch a lot and saved a lot. Even so we ended up changing hers to $20 a week because high school dances, etc. Son bought lunch every day, but still had money left. They had to give 10% at church and 10% in to their "save bank". It seems to work. They have small chores around the house, but not a lot. Daughter is an honor student and in marching band or musical most of year, so she really didn't have a lot of spare time.
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Old 10-05-2006, 07:27 PM   #5
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Our kids (DD9 and DS9) clean their rooms and pick up after themselves and we do not pay them for that. Consider it part of being a member of the household.

We see lots of friends paying out allowance and their children are very materialist and do not seem to appreciate the value of a dollar or hardwork.

We don't make them pay for lunch nor do they pay for their basic clothes. They seem content. When they do want an extra (like a CD, Neopet, candy, game), they use birthday money/gift cards received from family and friends.
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Old 10-05-2006, 07:41 PM   #6
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My kids each get only one dollar a week. They do do chores during the week, but they aren't linked to allowance. They also have unlimited potential to earn more money. I pay for additional chores. They only take me up on that when they really want something. I will pay as long as they work (not much, it's time consuming), but the potential is there, that they can earn a lot of money.
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Old 10-05-2006, 07:43 PM   #7
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My kids do not earn a traditional allowance. They have chores to do each day and pick up after themselves as they are part of the household. I do however pay them for things that they do not HAVE to do. My oldest daughter earns money by helping pick up her little brothers room. I opened an account for them using ING and they are saving for WDW. My DD9 likes watching her money grow. My DD6 has been told that if she doesn't help out more she will have much less spending cash. I also pay for most of their stuff out of my own pocket but they do get to earn things like Mc D's and such for getting all their regular chores done.
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Old 10-05-2006, 07:50 PM   #8
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My DS8 has a chore list and he gets $3.00 a week. If he wants a new toy or something at the store, within reason, 9 times out of 10, he has to buy it himself or we work out a time frame that he does his chores for no money to pay for that toy. Does this make sense the way I describe it?

The chores he does are helping clean the table, making his bed, straightening and putting away his toys, bringing out the recycling, feeding the cats, sorting his laundry.

He saves his money and he is proud that he works hard and helps...
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Old 10-05-2006, 09:15 PM   #9
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My DDs (10 & 8) do not get an allowance, nor do they earn money for their chores. Those things are part of their contribution to the family and are a basic expectation of living here. I don't get paid to do the laundry or whatnot, why should they?

That said, they do have ample opportunities to work for a wage. I own a business and they are paid to help me fold, cut, staple, sort whatever types of things I need done. MIL (next door) pays them to help around her house and FIL pays them when they help in his gardens. They use their money to buy their monthly Toontown subscription and for any general spending money. I usually will buy them a t-shirt or something along those lines, but the rest of their souvenirs come out of their money. They have learned the value of a dollar, how hard it is to come by, and how easy it is to spend, and have learned how to spend them wisely. They know the difference between a "need" and a "want", which helps in the finances, too.

ETA: the 8yo also frequently designs cards and gift tags and sells them to famimly members...takes after her entrepreneurial mother!
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Old 10-05-2006, 10:51 PM   #10
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My kids are paid an allowance after they have learned to count money, usually about 5 or 6 years old. Their allowance is their age per month (so my 10 yo gets $10 per month). They get the allowance written down at the beginning of the month, then throughout the month if they don't do what is expected of them they lose money off of it, then at the end of the month what's left is theirs.

They are expected to help out around the house, basically clean up after themselves, just because they're part of the household. They can earn extra money by doing things that aren't expected of them, like cleaning up after someone else (like the baby) or watching a sibling in another room while I'm giving another one a bath.

They also make extra money by going door to door offering to sweep neighbor's sidewalks and driveways and the good old fashioned lemonade stand.
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Old 10-06-2006, 04:56 AM   #11
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I finally began an allowance program with my kids 15 and 11. My son was nickle and diming me for all kinds of things like money for taco bell and paintballing. Paintball is crazy expensive. Each time he would go it was about 70.00.
He began to get 40.00/week. For that money, he has a chore list every Saturday which is similar to home-ec. Anytime there is a new chore, like laundry, I sit with him and explain how to do it (separate colors/fabrics/read cleaning labels/use different temperatures/etc). We cover all types of chores from yard work, to wiping baseboards, cleaning doorknobs, organizing the garage, and washing windows. I'm thinking of new chores for the winter so I'll probably have some fix-it stuff for him to do and fireplace cleaning. So far every week has consisted of including washing and vacuuming both cars. His work takes about 3-4 hours of the day.
If he doesn't complete the chores, he gets no money. With that money, he is to cover all expenses for any movies, fast food, video rentals, bike parts, paintballing, etc. The only thing I'll cover are the basic needs clothes (if he wants a special band t-shirt and doesn't need it, he has to by it) and special things like his school ring that we're in the process of ordering now.
We also have the mom-match program. If he decides to save any part of that money each week, I'll double the part he saves. So if he only takes 30.00 which leaves 10 in the bank, I'll put 20 in the bank. Over the summer he had small savings like 5 or 10 a week that I'd double. Lately, he's needed more money to cover other things like school lunches and flat bike tires. I keep an excel spreadsheet with the pay-out and savings because I don't transfer the money weekly. That way I only have to transfer about once a month. Once it's in savings, he cannot touch it.
He hasn't been paintballing in several months because he knows how difficult it is to save 70.00 for it. He has decided that it's not worth the money. I'm getting off cheaper than I did when there was no program so this is working for us.
The 11 year old is easier and she's getting 10/week. Same program but her expenses are much less.
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Old 10-06-2006, 05:10 AM   #12
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I really struggle with the allowance thing. I want it to be simple. I work full time, so does DH, and with kids in school and church and athletics there just isn't alot of time left over for any of us! I believe chores should be part of the responsibility of being a family, but my 10 and 12 yo don't have any way to make money, and I would like to encourage them to use their own for movies, extras at youth group, etc.
It's the monitoring of chores then the percentage of loss when they are not done etc etc etc that drives me nuts. I don't want to take the time to designate a dollar value for every "extra" they do either. I hate the nickel and dime factor. As it stands now, when I ask them to do something, they do it, and without complaint.
What is your best super simple system?
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Old 10-06-2006, 05:36 AM   #13
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Quote:
Originally Posted by MKCP5
I really struggle with the allowance thing. I want it to be simple. I work full time, so does DH, and with kids in school and church and athletics there just isn't alot of time left over for any of us! I believe chores should be part of the responsibility of being a family, but my 10 and 12 yo don't have any way to make money, and I would like to encourage them to use their own for movies, extras at youth group, etc.
It's the monitoring of chores then the percentage of loss when they are not done etc etc etc that drives me nuts. I don't want to take the time to designate a dollar value for every "extra" they do either. I hate the nickel and dime factor. As it stands now, when I ask them to do something, they do it, and without complaint.
What is your best super simple system?
The reasons you give are the same reasons I never had an allowance program in place until now. This is the first time life has calmed down enough for me to be able to follow up on things.
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Old 10-06-2006, 05:37 AM   #14
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We do not attach our girl's allowance to chores. They've been getting allowance since they were 5 years old.

They get an amount that equals their age but then we give them half and the other half is deposited into their savings account.

They use it to buy the things they want and they also give to charity.

We do not always make them use it on vacation unless they want more than the souvenirs we've agreed to buy them.
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Old 10-06-2006, 06:37 AM   #15
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We do not link allowance to chores. As others have stated, helping out is expected because they live here and are a part of the family. When the kids were younger allowance was to help them learn to manage money, 10% had to go to church, some to savings, and the rest they could use toward whatever they wanted. Now they are 12 and 14, we give them a fixed amount each week. They have to use it to buy lunch at school, and they can keep whatever is left (this has really reduced the amt of ala cart junk they buy!!!). We do offer to match whatever they put into savings.
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