Kids allowance...

junyr
junyr Posts: 416 Member
edited November 8 in Chit-Chat
For those of you that give your kids an allowance... How do you determine the appropriate amount? We have a 4yr old and an 8yr old that decided they want to try to earn some cash.... I'm not opposed to this, even if it's for stuff they should be doing aroudn the house anyway.... The bigger picture here is money responsibility, etc... My main thing is how others decide what's appropriate.

I was thinking maybe a buck a week for year of age? Like the 4yr old can get 4/wk, the 8yr old 8/wk.

IDK. I'm just tossing things around.
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Replies

  • shovav91
    shovav91 Posts: 2,335 Member
    As a child, I got a tiny allowance. I got about a dollar a week up until middle school where I got three, then high school five until I started working, then I was on my own. My mom generally provided everything I needed, so my own money wasn't necessary. I did learn the value of money from a young age though, and I can't thank my mom enough for that.
  • BioQueen
    BioQueen Posts: 694 Member
    I think I had $10 a week for most of my grade school years. However, I can't remember when my parents started that.
  • chicklidell
    chicklidell Posts: 275
    For those of you that give your kids an allowance... How do you determine the appropriate amount? We have a 4yr old and an 8yr old that decided they want to try to earn some cash.... I'm not opposed to this, even if it's for stuff they should be doing aroudn the house anyway.... The bigger picture here is money responsibility, etc... My main thing is how others decide what's appropriate.

    I was thinking maybe a buck a week for year of age? Like the 4yr old can get 4/wk, the 8yr old 8/wk.

    IDK. I'm just tossing things around.

    I have 7 kids, my rule has always been 1.00 per week per age of child, it works wonderfully. I also have a "job posting" list on my fridge once a week, posted on sundays, this allows them extra money for jobs that are not normally part of daily allowance money...such as washing the dogs, tutoring the youner kids...running errands for me.....cleaning out the fridge/stove, I assign a $ value to it, usually what my cleaning lady would charge anyhow and if there's takers great if not, Myself or my cleaning woman will do them..it just offers them a little extra on top of what they earn.
  • akjstyles
    akjstyles Posts: 75 Member
    My 5 and 7 year old get $2 a week if they do their chore, they only have one and it only needs to be done once a week. As they get older and ask for more chores I will give them different tasks for different amounts of allowance. If they don't do the chore they don't get their allowance. My oldest son doesn't do many chores that are set out but he does what he is asked to and babysits his younger brothers occasionally, for him we pay for his movies every weekend $10-$15 and about once a month we will give him $20, he is 14.
  • carolann_22
    carolann_22 Posts: 364 Member
    I think once they are old enough for this to work, they will get the amount it takes to cover a week of school lunches - and they can spend it on school lunches, or pack their own from home and save the money. That's what my parents did with me, and I liked it. I got French Bread Pizza on Fridays, and other than that I made my own lunches and saved that money.

    ETA: I'd rather do that than pay them for chores that they should be doing anyway.
  • gp79
    gp79 Posts: 1,799 Member
    Dave Ramsey has a pretty good system to teach kids responsibility with money. We're incorporating that now with our 3 year old.
  • mbriscoe79
    mbriscoe79 Posts: 50 Member
    My 3 yr old, feeds the cat morning and night and gets $2 a week

    My 11yr old stepson does alot of chores and gets $10 a week
    My 14yr old stepson again does lots of chores, even more than the 11 yr old and he gets $15.

    It does depend on their age and also what they are doing.
    My stepsons, vacuum and clean toilets/bathrooms once a week as well as daily chores (dishes, taking rubbish out etc). So they earn more money. We are trying to teach the kids the harder you work the more you can earn.
  • AllanMisner
    AllanMisner Posts: 4,140 Member
    Just realize that if you give them an allowance, you need to hold them accountable for managing that allowance. Don't buy them things that should be covered by their allowance.

    I think the amounts you outlined were fine. Consider the things they will now be responsible for. Will they buy presents for their friend's birthdays? Will they cover their own treats when they want a special cereal/dessert? How much will you expect them to save?
  • missbp
    missbp Posts: 601 Member
    I have 10 year old twins. They get $10 per week. Their chores essentially are whatever we ask them to do. Sorting laundry. Tidying their rooms. Trash. Dishwasher. I have been teaching them to clean the bathroom they use also. We have been pretty consistent since the new year began. I am pretty amazed with how motivated they are by cash.

    Hope this helps.
    M
  • brittanyjeanxo
    brittanyjeanxo Posts: 1,831 Member
    Allowance? This is a foreign concept to me, never got it. :bigsmile:

    But seriously, I do like the 1 dollar/year of age idea, and that you're starting them young. It's so important teaching them how to spend and save responsibly. My parents never did, and I wish they had. Then again, they're both TERRIBLE with it themselves, so...
  • ironanimal
    ironanimal Posts: 5,922 Member
    I used to get £20 a month from the age of 12 up to 16, but wasn't given physical cash. My father would track it on a spreadsheet and I often found I had over £200 when I rarely decided I wanted to buy something :) It taught me how to save and to make well thought out decisions when buying a luxury item.
  • christine24t
    christine24t Posts: 6,063 Member
    My sister and I never got an allowance, so I'm not sure how much to give them. We rarely did chores, but if our parents asked us to rake or do the dishes we did.

    But as for teaching about money responsibility, especially for the 8 year old - why don't you take him to the bank and have him open a checking account? I think you need 25 dollars at most places. It would be a great lesson about the bank!!
  • bbkohn
    bbkohn Posts: 29
    I never got an allowance as a kid. My parents bought me what ever was essential and I could save birthday/holiday money for anything else. I did, however, have chores but they were never called chores, just things that I was expected to do. i.e.: walk the dog, set/clean up the table, and keep my room reasonably clean.
  • missfluffyuk
    missfluffyuk Posts: 245
    ... Wow. Either you all give and got really small allowances, or I was pretty spoiled.

    When I was between 12 and 14, I would get $20/week in allowance. Around when I was 14 to when I was 17, I got $100/fortnight (so, $50/week).

    Until I was 15, my mum would still take me shopping once or twice a year to buy a whole new wardrobe of clothes. If I wanted to pack my lunch for school that was fine, if I bought something I paid for it. Often when I went out she'd give me $20 to spend.
    Going up to the shops (a 2km walk) for her netted me whatever change was left from what she needed (only bread or milk or the like -- never a full shop, obviously). I bought my own bus tickets to get to school from when I was 14 -- which led to the increased allowance.

    I didn't do any chores, and I retained my allowance until I was almost 18, even though I'd worked since I was 16. :D

    EDIT: all these amounts are in AUD, so do the math.
  • KareninCanada
    KareninCanada Posts: 962 Member
    Yup, you were spoiled. LOL



    I can't say enough good about the ChorePad app for iPod/iPhone. You can set it up for multiple kids, set up the chores, assign them to days and to kids, and you set up the rewards as well. Each chore has a value that you assign, measured in stars. Then you make a rewards chest where you set up a list of rewards that they can purchase for X stars. I have my daughter's set right now so that she gets $0.25 for two stars - she has something she really wants to buy, so money talks. (Later we'll add other reward options like trips to the park, a lunch date, or whatever.) Her allowance is completely determined by how much she does in a week. Some of them are regularly expected things, like making her bed and feeding the cat. Others are bonuses like dusting or sweeping. And then there are a lot which are just habits I'm trying to reinforce, like reading for 30 minutes, exercising, surprising someone with a good deed, etc.

    Each Saturday she cashes out her stars - she gets to keep 70% of the total, 20% goes to savings, and 10% goes into her little purse for church. We want to instill from a young age the idea of living on 70% of your income and hopefully it will stick.
  • missfluffyuk
    missfluffyuk Posts: 245
    Yup, you were spoiled. LOL

    thing was, most of the kids at my school had even bigger allowances! LOL

    But I'd lose my allowance for things like back-chatting, not making curfew, etc.
  • eellis2000
    eellis2000 Posts: 465 Member
    As a child, I got a tiny allowance. I got about a dollar a week up until middle school where I got three, then high school five until I started working, then I was on my own. My mom generally provided everything I needed, so my own money wasn't necessary. I did learn the value of money from a young age though, and I can't thank my mom enough for that.

    I gave them an allowance and it increased as the chores increased which was related to age/capability ie: the ability to mow the grass, take out the trash, do the laundry. The max was $15/wk. If they slacked off they lost some of their allowance that week. I bought most of their stuff still but if they wanted something special they would make up the difference. Like i would normally spend $30 dollars on a pair of shoes but my son wanted an $85 pair so he had to save up the difference to get them. Same with special hair products and clothing. It has worked wonders and my middle child is 21 this month has worked at the same place for 5yrs and is 1yr into buying his own home, my oldest has worked for the same place for 4yrs while paying her own way through college, and my youngest is almost out of high school has had a job since he turned 15 and has bought all of his electronics, his own furniture, and his own car. It has definitely helped my pocket book and knowing they have a strong foundation for beginning their lives has given me peace of mind.
  • missfluffyuk
    missfluffyuk Posts: 245
    As a child, I got a tiny allowance. I got about a dollar a week up until middle school where I got three, then high school five until I started working, then I was on my own. My mom generally provided everything I needed, so my own money wasn't necessary. I did learn the value of money from a young age though, and I can't thank my mom enough for that.

    I gave them an allowance and it increased as the chores increased which was related to age/capability ie: the ability to mow the grass, take out the trash, do the laundry. The max was $15/wk. If they slacked off they lost some of their allowance that week. I bought most of their stuff still but if they wanted something special they would make up the difference. Like i would normally spend $30 dollars on a pair of shoes but my son wanted an $85 pair so he had to save up the difference to get them. Same with special hair products and clothing. It has worked wonders and my middle child is 21 this month has worked at the same place for 5yrs and is 1yr into buying his own home, my oldest has worked for the same place for 4yrs while paying her own way through college, and my youngest is almost out of high school has had a job since he turned 15 and has bought all of his electronics, his own furniture, and his own car. It has definitely helped my pocket book and knowing they have a strong foundation for beginning their lives has given me peace of mind.

    That's pretty good. From when I was 15, I bought all my own clothes, schoolbooks, shoes, and most of my own hair products and toletries. Simply because it was easier for me to go to the shop when I needed them, than to ask Mum and wait til she next shopped.
  • juliecat1
    juliecat1 Posts: 3,450 Member
    I never got an allowance as a kid. My parents bought me what ever was essential and I could save birthday/holiday money for anything else. I did, however, have chores but they were never called chores, just things that I was expected to do. i.e.: walk the dog, set/clean up the table, and keep my room reasonably clean.

    same here and the same with my kids. I think, as a family, we all do things to help eachother around the house. My kids are all asked and expected to do certain things like clean their rooms, put their laundry in the hamper, tend the garden, etc.... I will reward them occasionally with money if they do something above and beyond. Especially with my 10 year old. Shes gotten bad about saying "Ill take out the trash for 5 bucks" Um.... dont think so. :laugh:
  • ffuunnnnyy__ggiirrll
    ffuunnnnyy__ggiirrll Posts: 431
    In my house allowance and chores are handled separately.
    Chores are the kids contribution to keeping up the house, they're to teach responsibility and self-sufficiency.
    Allowance is for learning how to manage money and for a little independance.
    When you tie chores into receiving allowance, you run the risk of the kids not doing chores because they don't need or want money.

    ETA: I give the kids anywhere from 1.00 to 10.00 a week depending on age.
  • wbgolden
    wbgolden Posts: 2,066 Member
    I give my kids $50 every two weeks and don't expect anything of them. Also, they get a participant trophy every evening just for breathing.

    To the OP. I think that's a good plan.
  • junyr
    junyr Posts: 416 Member
    In my house allowance and chores are handled separately.
    Chores are the kids contribution to keeping up the house, they're to teach responsibility and self-sufficiency.
    Allowance is for learning how to manage money and for a little independance.
    When you tie chores into receiving allowance, you run the risk of the kids not doing chores because they don't need or want money.

    Yeah, I've been torn on this very issue as well. I don't want to give them the idea of getting paid for nothing though.. Yeah, there's the teaching money responsibility, but part of that responsibility is to not get it without earning it.

    Thanks for all the input everyone! Many many good points to think about here.
  • 77tes
    77tes Posts: 8,571 Member
    Anything over 25 cents is too much -- but my data may be a little obsolete.
  • ffuunnnnyy__ggiirrll
    ffuunnnnyy__ggiirrll Posts: 431
    [/quote]

    Yeah, I've been torn on this very issue as well. I don't want to give them the idea of getting paid for nothing though.. Yeah, there's the teaching money responsibility, but part of that responsibility is to not get it without earning it.

    Thanks for all the input everyone! Many many good points to think about here.

    [/quote]

    Yes, they will be getting money without earning it but they also are performing jobs they get no reward for. I think there are lessons in both.
  • junyr
    junyr Posts: 416 Member

    Yeah, I've been torn on this very issue as well. I don't want to give them the idea of getting paid for nothing though.. Yeah, there's the teaching money responsibility, but part of that responsibility is to not get it without earning it.

    Thanks for all the input everyone! Many many good points to think about here.

    [/quote]

    Yes, they will be getting money without earning it but they also are performing jobs they get no reward for. I think there are lessons in both.
    [/quote]

    Good point there as well.
  • Ceezie
    Ceezie Posts: 21 Member
    I'm almost 20 now, and I never really had an allowance up until middle school. (I then had $20/week and that was honestly overkill haha.. but I used it as lunch moneym very seldom small social outings at the time, books, presents, etc.)

    When I was in elementary school, I didn't have an allowance because my parents provided all the essentials that I needed of course. :P However, if I wanted something special (like my Gameboy color :D, new game, toy, etc.) I would do extra work around the house or whatever work I could do or help out with for a month or so.

    If this method isn't really to your liking, I think the amount of dollars/age is pretty reasonable :)
    Don't forget to buy piggy banks also! hah
  • tig_ol_bitties
    tig_ol_bitties Posts: 561 Member
    Our allowance for doing all of our chores was not getting our *kitten* beat. Scare tactics worked well for us.
  • healthyJodi
    healthyJodi Posts: 31 Member
    In my house allowance and chores are handled separately.
    Chores are the kids contribution to keeping up the house, they're to teach responsibility and self-sufficiency.
    Allowance is for learning how to manage money and for a little independance.
    When you tie chores into receiving allowance, you run the risk of the kids not doing chores because they don't need or want money.

    ETA: I give the kids anywhere from 1.00 to 10.00 a week depending on age.

    I totally agree, I give my kids $100 bucks a month, (14 and 16) this is not chore based, they are still obligated to help out in running the household This is spending so if you want a pop after hockey you are on your own money or if you want to go to the movie with a friend or if you want call display on your phone 7 bucks is coming off that hundred every month. Teaching them how to budget is essential.
  • agoldlife
    agoldlife Posts: 9
    I dont remember what my allowance was but I remember my mother had me keep a ledger. I had to report how I used the money given me down to the penny.
    If I earned money she gave me an additional 50% of what I earned. So If I cleaned a neighbor's yard and they paid me $10 she'd give me $5 more.
    If I saved money she matched what I saved. If I got a good value on my money she reimbursed me for my purchase. My allowance was not tied to chores but to how well I managed to base amount.
    I give my 10 year old $5 a week as a base anything else is "earned". My 4 year old doesn't know to the names and values nor can he do the math money management requires. He is not given an allowance.
  • kaelawilliford
    kaelawilliford Posts: 41
    some good tips.....
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