My DD is 9 1/2. I just started paying her to help with the laundry. She gets $.50 for putting the wet clothes in the dryer and turning it on, then another $.50 for taking it out so I can fold it. I am thinking about breaking each dollar earned into 3 parts- $.50 to savings account, $.25 to Disney (we go every year) and $.25 to spending money. Also the savings account has a pretty low % so each time she hits $1,000 I buy a CD (which ever term has the highest %), so far she has 1 and is only $200+/- short for the next one. Each one will be rolled over until they are needed- car/college/apt.
DS is going to be 7 next month and he does not earn any money yet.
There will probably be a lot of oppertunity over the summer to earn money. They both earn $$ "working" at IL's business when on spring/Christmas break.
Mine don't get an allowance. They have certain chores to do, just because they are members of a household. Occasionally, they can earn extra money by doing extra things, like helping weed the garden, picking up sticks in the yard, etc.
we paid our boys $1 per year of age per week.
When coverd the basics and they bout the extras.
They saved enough to buy some kind of game thingy, (this was years ago)
Now they are grown and lving at home they pay rent.
I did not vote (because my kids are too small, although we will probably start with Braden soon), but I can tell you what I plan on doing.
My parents paid us by the chore--Dishes $x Vaccuum $x..............
Cleaning our room was not a paid chore and had to be done by Saturday morning if we wanted to go anywhere.
When we needed something like new shoes, they would see what we could get a decent pair of shoes for, if we decided we wanted to "upgrade" we paid the difference.
I think they made me very money savvy and I am very pleased with the outcome in my adult life.
Of course, like all great plans, things can (and probably will) change
I never had an allowance. I did get a couple bucks every now and then, but never on any regular basis. I had a little extra money ( couple bucks a wk) from buying my school lunch. That was it.
Thank you all for your replies, I greatly appreciate it.
My DS will be 10 next month and he currently gets $5 a week, 20% of which goes to his church offering each week. The remaining money he is free to do with as he pleases. If he wants something big he must save his allowance and/or birthday or holiday money. I don't feel he needs more than $5 a week, but he thinks he does. After reading many of the responses here, I think he is fine right where he is.
Our Authorized Disney Vacation Planners are here to provide personalized, expert advice, answer every question, and uncover the best discounts.
Let Dreams Unlimited Travel take care of all the details, so you can sit back, relax, and enjoy a stress-free vacation.