allowance question

[drcmk]

I never got an allowance as a kid - chores were what we did because we were part of the family. We just did what we were told to do. And when I needed money for a movie or pizza, or other small things like that, I knew that if I asked my parents, they would give me a bit of cash.

I agree. My kids' allowance is not tied to chores (heck, I don't get paid to iron clothes). It is a tool to teach them how to have, save, spend, think about money. I decided to begin the allowance when my daughter asked me for a game that I hadn't planned to buy for her. I didn't feel like I should buy her everything she asked for, but I also felt like it wasn't right for me to make every decision about what she could have to play with. So the allowance lets her make choices (limited ones) but she still can't have everything she wants."

 

[drcmk]

Although I do not believe that all chores should equal money, I think it's important for children to learn that they have to earn money. In the real world, you're not just handed money to budget. I personally think that giving an allowance to manage without work sets children up with a false idea of the future. Not trying to upset anyone, that's just how I feel about it./QUOTE]

I understand what you are saying. Of course, in the "real world" you are also not given free food, clothing and shelter and parents give all of those things to their children. My children will learn the value of working and budgeting by watching their parents work and save for the things that want and making contributions to the things that we care about. We talk about the value of things (like designer handbags versus Sears handbags) every day and we talk about the financial choices we make as a family (for example choosing family time over working more and being able to buy more things). There are different ways to teach values.

 

[robinb]

I started giving an allowance on a regular basis last year when my DD was 9. I give her $1 per week for every year of her age. It has cut down on the "I want!"s at the store A LOT. I keep her allowance balance in my iPhone and if she says she wants something I tell her to use her allowance. About half the time she changes her mind if it's HER money.

 

[nov02mom]

We started when my son was 4, and he gets $1 per year of age. Allowance is NOT tied into chores or grades- good grades and doing things around the house are just expected in our home.
He has a 3 section piggy bank. 1/4 of his allowance goes into the Spend section, 1/4 into Donate, and 1/2 into Save. At the end of the year he chooses a charity/organization he wants to donate to. He also LOVES going to the bank with his "save" money. I swear- he's trying to become the world's youngest millionaire!!!

 

[delmar411]

my kids start allowance at age 5. They get $5 per week until they are age 10 then it's $10 per week (older DD is just 12 so not sure what we'll do for her allowance once she is a bit older). They don't see a penny of it in real cash since neither DH or I deal in cash at all..does make it hard explain that money is real/limited and you're not just swiping a piece of plastic w/ unlimited funds though. All of it is deposited 50/50 into their USAA 'debit' cards and ING savings accts.

we don't just go shopping so I don't really hear the 'I wants' and they do know that they do have to pay for their own gifts to ppl at the holidays from their spending portion of their allowances so I do encourage them to hold onto their money. Plus things like extra souvenirs are things I expect them to pay for themselves.

I do buy them whatever they need. I don't expect them to cover any of that unless it's something that I'd never buy. I don't want them to spend all their allowance money on junk so I do hold final veto power.

Allowance is not tied to chores because I believe chores are just part of being in a family and are not optional.

 

[TxRabbit]

Allowance is not tied to chores because I believe chores are just part of being in a family and are not optional.

Same here. Like a PP said, you do chores because Mom and Dad told you to do chores.

We don't pay for grades either. It would be too much added pressure on my kid. He already puts too much pressure on himself.

We DID reward for his perfect score on the TAKS test though (the test for grading the schools in TX).

DS started getting $5 a week when he turned 8 years old. It was part of our birthday gift to him. He has never had a raise. It's been 18 months. He pays for gaming things generally. In our house, his ALLOWANCE is the money that we have decided that he is ALLOWED to spend on his "I wants." We still provide for his "I needs" and all family activities (movies, sports, etc.)

If we do something out of the ordinary, like a trip to Disney, we generally give him a budget for spending on the trip.

We used to pay for chores that were above and beyond. This concept didn't really work for our family. At this point, I'm thinking about getting his entrepeunerial spirit roused if he ever wants to have a bigger budget than his $5 a week. One of his friends has a blog and he gets a check from Adsense for about $5 a month...

 

[disneydreamersx4]

I don't believe in giving allowance but DH does so we started giving it in 1st grade - $1 per week. Now DD1 is 12 so we pay for her cell phone to have texting $15 and she doesn't get allowance then. She still makes out because when she wants something within reason, we budget for it like hair mousse or movie with a friend, dinner at the mall with friends. I think it might be time for DD2 (9yo) to get $2 a week now. Edit - forgot that we give $5 per report card so that's $20 each daughter but an extra 5 for each straight A report card.

Oh, they have to keep their room clean, empty dishwasher, DD(12yo) walks the dog when I ask her.

 

[abcboys]

We are cheap, it is $1 per year of age, per month. So my 11 year old gets $11/month. It isn't much, but they don't need a lot. It is not tied to chores, it is automatic.

My question is, when they have their own money, what exactly do you pay for, and what do you make them pay for? So far this has just been arbitrary- if I want to buy it for them, I do. If I don't want to, I tell them they have to pay. Of course they never bring their money with, so then it is "I will pay you back, I promise!"

This is exactly what we do. Their age in dollars per month. 11 year old gets $11/mo. 8 year old $8/mo. The 4 year old doesn't get a set allowance yet but I told him when he turns 5 we'll see.

If they want something I don't think they really need I tell them to use their own money. I will pay for them to go to the pool but if they want a snack they need their own money. A lot of times I will try to talk them out of buying something because I really think the money is just burning a hole in their pocket.