Allowance

[texxie]

I have two DDs ages 9 and 3. Both get an allowance, we do .50 x their age. (I think I read that in parenting magazine a couple years ago).


DD1 is old enough to know her basic chores. She feeds the dog, takes her out for potty breaks, changes the bathroom trashcans, keeps her room clean and puts up her laundry. Because she's 9, she gets 4.50 a week.

DD2 gives the dog and cats their "treats", she feeds the cats their nightly wet food dinner. She puts up her undies. I keep them in a cute basket in her room (this helped when we were potty training, why rock the boat? lol). I don't want her trying to open/close dresser drawers so for now, just the undies in the basket. She picks up her toys from the livingroom before bed, puts toys in her bins and gathers the dogs toys that are scattered throughout the house and puts them in the doggie toy basket. this earns her 1.50 a week.

both girls also help unloading groceries like taking the toilet paper to the closet or putting detergent in the laundry room. They also, sometimes, take the clothes out of the dryer for me to fold.

Hope that helps.

[Cynthiabutterfly]

I have read about a system that I would like to try, but haven't.

You have a base amount based on the age (between .25-$1 per year of age, depending on how rich or generous you are) so they get a 'raise' on their birthday. Then you subtract the same amount for each regular chore not completed, and extra for big or nasty chores.

My example would be:
DS, 6yo .50/yr = $3 wk
He didn't clean his room on Tuesday and Friday, so he gets $2.

Saturday he helped his dad clean the garage, so the next week he gets $4.

Then you would need a system for putting money towards savings, so let's say 25%, for every dollar they get, they put .25 in a jar towards a savings goal, and label the jar with the goal. If they have something to save for, they are more likely to be excited about it rather than pouty.

This system would mean that I would be getting a roll of quarters from the bank every week.

[puakinikini]

I would strongly recommend the book "Money Doesn't Grow on Trees: Teaching Kids the Value of a Buck" by Ellie Kay. I read this a few years ago and it is very helpful advice about how to teach kids about money and how to handle things like allowance. As a warning, she is Christian, and a lot of advice incorporates her faith - in case anyone is sensitive about these issues. (I recommended this to a non-religious friend, who had some trouble with it). No matter what your belief syatem, she is down to earth, direct, and has really thought out the message we send to kids about money.

[taylordvd]

Anyone else?

[uummm]

My boys are 10, 15 and 19 (and 19 no longer gets allowance that cut off at 18)

My boys have gotten half their age for several years now. We do make them do chores like dishes and trash. When the oldest got old enough to do the lawn he got a raise to $10 allowance, now the #2 is old enough and he gets $10 a week for the lawn, trash and dishes. They also have to clean their rooms when we tell them too (they tend to be messy and I ask on Fridays they be cleaned) and clean the bathroom when I remind them-though they don't do ANYTHING unless we remind them.

We do NOT buy soda anymore so typically they will buy soda (12pks/2ltrs) with this money and candy and McDonalds if they can sweet talk us into taking them there. We only go out to eat typically once a month as a family and they are not expected to pay for that. I get $50 a month which I treat myself to whatever I want and MAYBE treat kids that might be with me at the time-depends on my genersoity and how much money I have.

Part of the reason you give kids allowance is to try and teach them how to budget their money, save and spend. When we started allowance we stopped giving money when asked. No more "can you buy this for me" even at the grocery store sometimes (though it depends on how nice I feel that day and how much grocery money I have remaining).

[CouponSAHM]

Anyone else?

I'm enjoying all the responses! We will be embarking on the allowance thing soon too.
Right now my boys are 4 and 2. They help seperate all the laundry and have to name what bin they need to go in (lights, whites, darks). They help load the washer and the oldest has learned what settings to push on the washer (lights= casual setting), they transfer the clothes from the washer to the dryer and have to shake each one before putting it in. They put their socks and underwear in the drawers. When they come back to the laundry room, their are coins waiting for them to go put in their banks. I think this has been a pretty good intro into the age of allowance, and should make for some decent bachelors who know their way around a washer!

[ekoury]

I think this has been a pretty good intro into the age of allowance, and should make for some decent bachelors who know their way around a washer!

That's right! Train them young!

[Snookibear]

We bought Dave Ramsey's Jr. Financial Peace and going to start it soon for my 5 year old. Check it out at his website.

[amzasmommy]

ds is 3 so i haven't started this yet. I've heard you do $1 per year of age. Then you can suppliment w/ extra chores. I want to start this for stbss. They don't get an allowance right now. So for example they would get $13 a week and have a set about of chores to do. Then there would be extra chores on a list w/ a $ amount. If they do those they can earn more than their base amount.

[StacyNVA]

I have 3 kids- 15 dd, 12 ds, 9 dd. They get their age in allowance every other week. All of my kids have chores and have had since they were little.
My oldest just went to Savannah, GA and Myrtle Beach, SC with the Girl Scouts and had to have her own spending money. She only spent $15 of the $100 she took. I think they respect money more when the earn it. My son just left for Boy Scout Camp with $40. All 3 are required to put aside 10% for long term savings and to set a short term savings goal.