Allowance?

[andiesmama]

Do you guys give your kids an allowance?

What age were they when you started?

Is it chore-based? Or just a flat amount?

If it's not too nosey, can I ask how much?


I've just started thinking about this....I have no idea what age you should start at, I'm thinking 5, just because it sounds good! lol

Also, I don't know that an allowance should be chore-based. I think that they should get a base amount of $X, then if they need extra money they can do extra chores. (READ EXTRA CHORES!)

My reasoning: I don't want to equate doing chores around the house...meaning being a part of the family & doing their part to help out....with getting paid for it. Mom & Dad don't get paid for doing their chores, do we? Every kid needs spending/saving money, chores IMO are just something that's expected. Does that make sense?

Anyways, I just wanted to throw this out & see what you guys think....

 

[christiankate]

IMO, I think 5 might be just a bit too young for allowance. If you want to give her a reward, maybe say something along the lines of " after all our chores are done you will get ___________" Maybe to watch a t.v. program, or get a treat. ect. If you want to do a reward. Most of the time young children our energectic to help out without a reward. Maybe do a sticker chart. Kids love that. If you do all your chores you will get to put a sticker on the chart, or something. Then when kids are older then maybe money might be an option, just a few Ideas for you.

 

[Leanna]

That sounds great andiesmama, we will probably do it that way too. (way in the future) Chores are because they are a responsible member of the family. Allowance is so that they can learn money management. Extra chores, extra allowance, so long as its agreed upon and there's some reason he/she needs extra money.

 

[Princessperky]

My kids get a lot of loot from family, and my DS is starting a campaign to earn loot from other people, I like it better than allowence, 'cause honestly allowence isn't in the budget, they both have more spending money than I do!

But if there were no other source of income, I would want to look into allowence at some point. If you are old enough to want 'stuff' you are old enough to learn how money only stretches so many ways.

But I totally agree with the fact that normal work around the house is pulling your share to keep it running, not worthy of cash incentive. (no one pays me to do the dishes!)

 

[McDLT]

I think 5 is an okay age to start an allowance. Hubby & I have been giving the girls money (not allowance, just spare change) since they were 2. It's a great way to teach them about money (and math too).

I agree that "paying" children for household chores is not good; it's just being part of family. I fear that if I pay them, they would want to get paid for everything. Even paying them with rewards is not the best either. I think children will start thinking - "What will you give me if I do it? What's in it for me?" - rather than doing it because it's the right thing to do.

We are just thinking about allowance now too. One just turned 4 and the other will be 6 soon. Right now, we have a system which helps to curb the "greedy gimmes". They can look at toys, clothes, movies when we go shopping and if they see something they really want, we ask them if they want it added to their list. The list is for Christmas, birthdays, etc.. Most of the time they are okay with this.

Anyway back on topic. I'm leaning towards just giving them a flat amount and teaching them money management - Saving, Spending, Sharing (charity). The amount of money is the hard part. I've heard that some people equate the allowance with age. For a 6 year old does that make $6 a week or a month?

Just some of my thoughts and little rants .

 

[Picture.Of.Obedience]

That sounds great andiesmama, we will probably do it that way too. (way in the future) Chores are because they are a responsible member of the family. Allowance is so that they can learn money management. Extra chores, extra allowance, so long as its agreed upon and there's some reason he/she needs extra money.

exactly!

 

[jenniferstell]

My daughter is just about to start getting an allowance, as she'll be 10 next week. I had her wash dishes today, and to my surprise, she did a really good job! That will be her new chore, along with keeping her room neat and tidy. If she keeps up with both, I'll give her an allowance that equals half her age.

 

[andiesmama]

Jennifer....I've heard that half the age thing, too....your post reminded me of it...Thanks!!

 

[Jdub]

We are considering allowances for our children too. I have an 8, 7 and about to be 5 year olds... They have things they just have to do because they are part of the family but they will have a chore option that helps out with the 'mommy/daddy duties'. The 7 and 8 year old get the value of money. We are considering $1 for each year of age per month (my 8yo will get $2 per week). I don't really know what to do about my 5yo. He doesn't understand the value of money so is he too young or is this a good way to teach him? Whenever he gets money (change or whatever), he wants to go spend it right away! Would love to hear more thoughts on this!

 

[akmom]

I have a six-year-old, and if I give her money, she'll just want to buy the first thing she sees that is marketed to kids. A regular allowance just equates to a regular influx of random items, and I don't need the clutter. So I don't do allowance for my kids.

Personally, I have doubts about the effectiveness of "allowance" teaching kids money management skills. In the real world, you can't just earn money whenever you feel like it. You can't see something you want and then expect to be able to work enough overtime to afford it. Likewise, you can't just stop earning money because you don't want anything in particular. And most "money" goes to obligatory expenses, like bills, rent/mortgage, food and necessities. How does that fit into the "allowance" lesson?

 

[pennyfromheaven]

My kids are too young for allowances (2 & 3) but it was interesting to read this thread to see what other parents do! Good point about how household chores are because you are part of the family. I think we could earn money from my dad as kids by washing the car and extra stuff around the house - I never got a set allowance until high school and then it was only lunch money!