| Allowance 4 kids
Posted: 2/7/2007 12:42:06 PM | Just want to hear opinions/advice/stories about giving kids allowance... How much? At what age do you start giving them allowance?
My son who is 11 is wanting an allowance for cleaning his room, I say no because I am not going to pay him for something he should do!! He has his small list of chores (take out garbage, put his laundry away, wash his dish after supper.) Not much in my opinion..
I do get my kids treats from time to time (toy,or a movie, or candy/chips or Mcd's, etc) So its not like they are not rewarded for doing their chores and been good.. I just feel the chores they (I have a 6yr old too) do are basic life skills and why should someone pay them to do something they should do! I rather rewarded them with a day out doing a movie, rollerskating, the museum, the zoo, the park, etc etc or dining in (pizza, kfc etc) or a small toy from Walmart or a trip to 7-11... Something rewarding for everyone!
Am I wrong on this? Also I told my son if he wants money, go shovel walkways for a buck, or when summer comes mow ppls lawn, or a small paper route, or he'll be able to legally babysit in a few months after he takes the babysitting course and when he turns 12 of course.. I just don't see why I should pay him for things he has to do in life!!!
What are your thoughts???????????? | |
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| Allowance 4 kids
Posted: 2/7/2007 1:19:44 PM | I agree with you. I do not give my daughter an allowance. She currently earns extra money by coming to my office every other week to clean.
At home, to earn extra money, she must go above and beyond her regular chores. she also gets $2 for every book she reads. Not the graphic novels she favours, but an approved my mom novel.
There are a lot of varying opinions on this. Some people think it is good to teach them about money by giving them an allowance. I think there are other ways to do it.
Unless of course some one wants to pay me for doing all the household chores......... | |
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| Allowance 4 kids
Posted: 2/7/2007 1:24:57 PM | | LOL Exactly... I like the book idea especailly for my son.. He rather do anything but read! | |
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| Allowance 4 kids
Posted: 2/7/2007 1:26:54 PM | | I was never given allowance as kid for doing in house chores. I was however paid for my duties outside the house. I got paid a buck for chopping wood, 25 cents a dozen for gathering eggs. I got paid a buck for cutting the grass or shoveling the snow each day. That sucked when I had to shovell snow more then once. I also got paid to help neighbouring farmers by the neighbour. Mom believed as you do to not pay me for things I had to do to help maintain the house. I also was on fine system so if my room was not cleaned I lossed a buck, If my laundry was not then I lossed a buck. I also had to pay for my own wanted items like bikes, pop, chips, candy, scouting, soccer. Now todasy the going rate may be much higher but it did me no harm. I think it was better then just handing me an allowance because it was what every one else was doing. Her system meant that I had to learn to save and budget. So that began over 25 years ago and I take those skills I learned as an adult worked great for me. | |
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| Allowance 4 kids
Posted: 2/7/2007 1:42:03 PM | | I have a chart I picked up at staples that has lists of the days for the week and down the side is blank spaces to write chores in. My daughter gets stars for each chore she completes in a day then at the end of the week she gets a quarter per star. Then she by herself saves half in her piggy bank and I explain it every weekend she has to pay herself and she has the rest for when we are out. Dollor store craft stuff, a pop here and there etc. | |
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| Allowance 4 kids
Posted: 2/7/2007 1:45:05 PM | I do give my kids allowance and they are 12 and 15.They do a lot around the house and are helping me a great deal.
The kids can both do laundry, cook and clean, as well as shovel the driveway.We all share the work equaly if you think i am making them slaves.
Ten dollars a week per kid and they use it for movies and save it for things they want.
To me it gives them some control of what they can spend or save for as well as be ready to take care of themselves when they get older.
I think if it is done right it is good.But have heard stories about allowance being a problem in some cases. | |
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| Allowance 4 kids
Posted: 2/7/2007 3:10:22 PM | I believe in giving an allowance, but not for chores. Kids do chores because they are a part of the family and that's what families do. Allowances are very good for teaching about money and spending/saving it wisely. My daughter is almost four, and I've just started giving her an allowance (she was showing a real interest in money, and was already getting spending money at the dollar store, now it's a set, controlled amount). She gets $2 a week (half her age). 25 cents has to go in her savings piggy bank (which goes to her own bank account when there is enough) and 25 cents in her charity piggy bank. Now when we go to the dollar store she brings her purse with her own money. I'm not spending any more than I used to and it's teaching her how to handle money.
My daughter also has age appropriate chores that she does, simply because I ask, not for the incentive of money. | |
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| Allowance 4 kids
Posted: 2/7/2007 4:53:33 PM | | My children received an allowance from the time they were about 2 or 3 through high school. When they were very young, their allowance was a couple bucks for them to spend on gum or a flashlight, etc. By the time they were in H.S., their allowance was $350. to $450. (inflation from the oldest to the youngest) per month. Out of that they had to pay ALL of their own expenses except school lunches, family meals out and vacations. If they wanted to go to the movies, cool. Expensive shoes? Great. Band camp, skiing passes, prom, whatever! If they had the money, they could go. If they didn't, well, they didn't. Their allowance wasn't a reward for doing chores - they lived in the house and everyone had to contribute. Their allowance was simply their portion of the household disposable income. I assure you, as a parent, I never had to argue with my kids about money. I have many friends that thought I was crazy to give my kids so much money, but their kids walked around with their hands out...$20. here, $40. there. They were nickeled and dimed until they were quartered. My children also learned valuable lessons about managing their money, when "money" was a few hundred dollars. I watched them make poor choices more than once (I've got that wide eyed look with "Wow. That sucks! What are you going to do now?", speach down pat), but now, as young adults, all are responsible (most of the time). The other benefit to the parent is you can build their allowance into your budget, so prom week, financially, for you, is like any other week. | |
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| Allowance 4 kids
Posted: 2/7/2007 8:05:01 PM |
I assure you, as a parent, I never had to argue with my kids about money. I have many friends that thought I was crazy to give my kids so much money, but their kids walked around with their hands out...$20. here, $40. there. They were nickeled and dimed until they were quartered. My children also learned valuable lessons about managing their money, when "money" was a few hundred dollars. I watched them make poor choices more than once (I've got that wide eyed look with "Wow. That sucks! What are you going to do now?", speach down pat)...
Hmmm....I actually kinda like this idea. Surprises me really ,because I have been anti-allowance, I too believe that household chores are done by all that life in the house cause they are required, not because you are paid to do it....however, I have a money obsessed child(obsessed in so many ways, from how it's made, different currency etc....to having it in his possession) so I may have to consider a different approach. Yours seems to make good sense in that they realize they can't come to you repeatedly for handouts, but they have to choose with their own funds what, when and how much, and will figure out the consequences with one or two 'mistakes'. Also allows them to save up for a big purchase if that is what they really want....I think the key is the 'what are you going to do now' approach when they over-spend, so that they don't get used to you bailing them out ...obviously the amount is determined by your disposable income available and what is a suitable amount for each age....hmmm I might have to consider this approach, it might work with the issues I am currently faced with, and over the long term may prove to be a consistent approach.....hmmm. | |
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| Allowance 4 kids
Posted: 2/7/2007 8:29:41 PM | An allowance is a good idea and while Kymicat's post initially nearly gave me a heart attack, it actually makes a great more sense than the current nickle and diming program.
Whether you tie it to chores or something else, the reason an allowance is a good idea is that it teaches kids to manage money. My parents were very good about teaching me to save, but they taught me nothing about spending.
If you make the allowance a fairly large amount that is probably about what they wind up with now, they find out what happens when the end of the month arrives and they have no money. They learn that if they want to do something special like the prom they either earn the extra money or they make sacrifices at the beginning of the month to afford what they want to do at the end of it.
My parents taught me the value of money but it really did not prepare me for making the decisions that face self-sufficient adults. Those first few months were pretty scary and in some ways that is good, you remember how fortunate you are today, but there should be an easier way to make the transition. | |
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| Allowance 4 kids
Posted: 2/7/2007 9:54:36 PM | Allowance gives kids some independence... and if they are willing to work for it then why not let them try their hand at spending their own money that they earned...
I have put money aside for my son (5 years old) for when he gets old enough to start having an allowance and when he is in school... I do not want my son working after school hours, trying to do homework and playing sports... I would rather him do his studying, play school sports, be able to go out with his friends on the weekend... in the summer, he can get a summer job and earn money that way while not having to worry about carrying a heavy load during school... | |
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| Allowance 4 kids
Posted: 2/7/2007 10:39:49 PM | My gf was never allowed to have money when she was growing up, she never got an allowance and was not allowed to get money from outside untill she was 17, she has terrible spending habits and has a very hard time saving any money at all,
i dont want our kids to have the same mentality about money so im going to give them an allowance at an early age that they will have to put half of into a savings and the other half will be theirs for whatever they want to spend it on,
this is what i was given as a child and i think it helped me to be responsible with my money growing up,
at 13 i started my own business doing yard work, mowing lawn raking leaves, showeling snow, pruining trees and cleaning pools.
i would make about $800 every summer that i would then use all winter to pay for extra sports and going out with my friends, as i got older i made more money as i started helping with house renovations and taking on more yard work, when iwas 16 the last time i was working yards i made 2000. the next year i used to the money to move out of my parents and live away from home in a different city with my friends then get a real job that paid less than my yard work :(
but now i have a career that pays well and own a house,
i credit all my monitary achivments to having been given money of my own at a young age and taught how to be responsible with it. | |
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| Allowance 4 kids
Posted: 2/7/2007 11:41:07 PM | | I can totally understand where you're comming from... but this could also be an opportunity to teach your children how to save and spend their money.... | |
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| Allowance 4 kids
Posted: 2/8/2007 9:00:07 AM | | when my daughter was younger to help her learn the value of a dollar and to learn how to "earn" a buck , she had some jobs she could do that were set for her age, others that were cause she was part of the family and she could help out. As she got older the amount and jobs changed, but at allowance time she would come with hand out for her money I would hand it to her BUT also a bill for what she didn't do , and that I did... and her full allowance ....then she had to pay me for the jobs that I had done. | |
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| Allowance 4 kids
Posted: 2/8/2007 9:19:32 AM | I know when I was younger I did not get an allowance until I was about 12 or so. Prior to that those things were expected of me to do. I think that its a wise way to engrain the ideal of work into your childs minds and if they are doing it just for an allowance that is fine too..your way doesnt seem bad..neither does the idea of giving them an allowance for their work either.
the way I look at it is if I buy their food, clothe them, take them out on outings then they should maintain their chores to contribute. That may sound harsh but it does teach some good values. | |
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| Allowance 4 kids
Posted: 2/8/2007 10:06:25 AM | Well my six year old has always had £1 (about 2USD) for every year, so currently she gets £6 (about 12US) per week. She saves it up as it goes straight into her bank, and if she wants to buy something big she can, I plan to keep that going, she loves the idea that she saves money, she gets a bank statement every 3 months and she loves to see how much she has. When the Tsunami hit she withdrew half her money about £ 400 and donated it, her choice nothing to do with me, aged about 12 she will get a VISA Electron card on the account as well.
I think it is vitally important that we teach our kids financial control and the value of money. | |
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| Allowance 4 kids
Posted: 2/10/2007 8:50:38 AM | I have received several emails regarding my previous post on this thread, wanting to know how to determine how much a childs allowance should be. Depending on the age of the child, as a parent, you need to determine how much you normally spend on any budgeted item (ie: every other week your child goes to the movies with friends. $15.00 per week X 26 /12 = $32.50). You then give that amount to the child with the understanding that this is ALL of the money they are going to receive for the movies. By the time they are 15 or so, they should be in charge of their own budget (clothes, entertainment, etc.). It is important that they receive enough to maintain their current "lifestyle". If you normally spend $150.00 per month per child, do not try to give them $100.00 and then get upset when their money doesn't go far enough. Once the money is given to the child, it is the childs. Do NOT try to control their spending. Everyone makes financial mistakes, let them make theirs now. They will learn very quickly if all decisions are left up to them. When their finances crash and burn (and they will), love them, support their decisions and DO NOT give them an extra dime. I did have one occasion when my daughter was in Jr. High that I had to 'loan" her some money (we're talking a whole $20.00). I took her stereo as collateral and charged her interest - they can't learn about the real world if we insulate them from it. As for the "what are you going to do now?" speech, use it regularly, for everything, not just financial matters.
A couple of nights ago, I ran into my youngest son in the grocery store. He had a SHOPPING LIST. When I asked about the list, he gave me one of those, "boy, moms are not very bright" looks, and anounced that, "you spend way less money and you buy food, not junk, when you shop with a list". They really do get it, eventually. | |
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WWCND
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Joined: 3/9/2006
Msg: 18 | |
| Allowance 4 kids
Posted: 2/10/2007 9:13:26 AM | I worked for my money through highschool, but I wasn't obligated to buy my own things.. my parents bought my clothing etc(as they should, it's a basic right as a child to have clothing and shelter :P)I would also get money for my report card, not because it was good, but because I wouldnt let my mom see it unless she paid me haha
My daughter doesn't get an allowance, but does earn money for doing things around the house. She gets 4$ a week if she keeps the kitchen floor clean.. that means she has to vacuum up after her little sister eating haha(In my defense I just had surgery and getting my house clean has been problematic)
I know that if I had 350$ at 16,17 or 18, I would have blown it on alcohol, cigarettes and pot. I'd be more comfortable giving out 50/week instead of all of it at once, at least with a smaller amount you can limit what they can buy with it. | |
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| Allowance 4 kids
Posted: 2/11/2007 5:56:47 PM | i don't like the idea of linking allowance to chores either. in my opinion we're both a part of this household (it's just me and my 10 year old) and we both do our fair share of the chores. hers are assigned based on what she's capable of.
i've been giving her allowance since she was 3. $1 per week for every year she is old. so now she's getting $10 a week. this is what she uses to buy all her luxuries. it's taught her the value of budgeting her money and saving up for things she really wants. and i never ever hear, "Plleeeeeease buy me this??"
today she bought a book, some chocolates to give out to her friends on valentines day and a bead. | |
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| Allowance 4 kids
Posted: 2/14/2007 2:21:58 PM | | My daughter, who is 9, gets $10 a week. She is expected to do her her chores regardless of allowance, and I agree with the other posters about separating the two. she is old enouigh to manage money and learn to be responsible about it. My daughter thinks long and hard befiore she spends any of it,l and really appreciates how hard I work for it and does not waste it (most of the time LOL). | |
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| Allowance 4 kids
Posted: 2/14/2007 4:50:00 PM | | my 6 yr old gets $2 a week,she loves putting it away in her wallet and saving it up to get something extra,like a DVD . her chores are pretty basic,shes expected to keep her backpack straight,pick up her mess in the living room and always throw out her trash,dishes in the sink,etc. her dad sometimes gives her some when she visits,but i think its more like pocket money | |
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| Allowance 4 kids
Posted: 2/14/2007 5:59:55 PM | | Here is the flip side to your argument. Give them the allowance and if they want a special toy then they have to save their money and buy it. They will appreciate it more when they have had to earn it. It is a start to teaching money management skills which all of us could use help in that area. Give him more chores and tougher ones and if he does them without reminder then give him an allowance. But make a chart so it is easy for him to understand. | |
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| Allowance 4 kids
Posted: 2/14/2007 6:20:44 PM | Another great thing we do is she has to save $3 of every $10 in her bank account. She learns savings, interest and discipline.
If she wants somethig and really saves and works hard for it, I sometimes pay the tax and chip in a couple of dollars, or give her a "special" project so she can make up the difference.
Because we have a good relationship and she gets we BOTH live in the house and have to contribute, chores are rarely a problem. Once she didn't want to clean her room, so I said fine, then you do MY chores and I'll clean your room. She cleaned her room LOL | |
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| Allowance 4 kids
Posted: 2/14/2007 7:15:59 PM | Chores are not an issues around here either... Both kids are pretty good about their chores.. I got some pretty good ideas from this thread so I may use some of these ideas you people gave me... Thanks  | |
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| Allowance 4 kids
Posted: 2/14/2007 7:34:02 PM | sweet... you're exactly right in my book. i never paid my son an allowance for the chores he was responsible for on a regular basis. i also reserved scrubbing the floors as a form of punishment, which he avoided at all costs. but... if he wanted to make extra money, he would come to me and ask me if there was anything he could do to make money and i'd give him a list of things to pick from. it worked well for us for so many reasons so i encourage you to stick with your current rules and encourage him to find ways to make money. he could check with the neighbors and see if there's anything he can do for them to make a few bucks.
the budgeted allowance is also a great idea if you can afford to do that with your kids. i couldn't see myself doing that because i'm a sucker for giving in when my son wants something but if you can do it without giving in... that idea is worth a shot. | |
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