To allowance or not to allowance?

Discussion in 'Family Chat' started by gcook, Apr 14, 2015.

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  1. gcook

    gcook Administrator

    What’s your opinion on allowances? Do you issue them to your kids? If so, at what age, how much, and how often?
     
    Mr. Big likes this.
  2. MeganLorraine

    MeganLorraine Working Mom

    Children should learn that chores are part of being a family. Everyone helps out. For me, if they wanted to do extra to try to earn some money, like mowing the lawn, there is no problem with that kind of allowance. In my option, allowance for doing things you should already be doing isn't really teaching them to do things without being bribed. My son is 3, so for now we settle for him helping out around the house, but then if we ever have change in our pockets, we leave it on the table and he gets to put it in his piggy bank.
     
    Gwen and Brooke like this.
  3. rpatterson

    rpatterson New Member

    I think allowances are a valuable teaching tool at a certain age. My parents started giving me $10/week when I was 10, and they made me file it into three separate envelopes: discretionary spending, short-term savings, and long-term savings. I would put $2, $3, and $5 in each, respectively.

    Discretionary spending was for things like a pack of gum or a slurpee, while short-term savings was for something like new baseball cleats or a hockey stick. Meanwhile, long-term savings just accrued over time before I started my own bank account. I think that my allowance was a useful tool in learning how to budget my money and avoid wasteful spending!
     
    sburdick likes this.
  4. Kristi

    Kristi Libman Family Blogger

    In our house, money talks. We are raising two teenage boys that work a lot more efficiently when money is added to the equation. They have their day to day chores (load/unload the dishwasher, keeping their room clean (which most days doesn't happen), etc.) that we don't pay an allowance for. Those are things that have to be done, but when we need to get things done like mowing the lawn, extra jobs around the house (over their normal stuff)...we pay and we pay well.

    My husband travels A LOT for work so it's usually just me and the kids handling everything at home. This past weekend, I had no problem paying them each $20 to get everything back in order. They were happy, my house was happy and I was too. It was a win for everyone!
     
    gcook likes this.
  5. Marina

    Marina Libman Family Blogger

    We do allowances but not for chores. Mainly to teach them how to manage their finances. We teach them how to set aside an amount for the bank aka their big savings, an amount to save for something they may want to buy, an amount to give to church as their tithe
     
    gcook likes this.
  6. Gwen

    Gwen New Member

    As a parent of two successful adult children, chores were part of our family dynamic. We did not use allowance as payment for responsibility. Our children learned at a very young age that we were a family unit, and everyone pitched in to accomplish the household tasks. As working parents, we taught them hard work allowed us to have and do the the things we wanted. In return for their help with maintaining things in the household, we provided for them to participate in numerous activities and outings. These life lessons taught them responsibilities, and great work ethics. Both children are now grown, work, and have homes of their own. A true measure of a parents accomplishments are responsible, successful children.
     
    Katharina likes this.