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Do you give your kids an allowance?

Posted August 26, 2015 - 10:33am

If so, do they need to do anything to earn it?
How much do you give them?
Do you take it away as a punishment?
Do you put any regulations on what they do with it? I mean can they spend it all if they want of do you make them save some of it.

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I've done allowance. In the end, I have found it more practical (albeit easier) to just have the expectation that everyone has a job in the making our family better. We all need to pitch in (take the trash out when you see it's full; make your bed that you sleep in. Pick up after yourself. Put your clothing in the hamper, etc.) It is working for us. Allowance for us, turned in to not every child brought their money on an outing or event and then I'd loan it to them, and they'd think I bought it for them. Keeping track of chores and the pay rate was another job for me. 


Yeah, allowances never worked for us. I'd just give my kids a chance to buy a treat at my discretion every once in awhile. I still expected them to do chores & I would refuse to buy them something if they were in trouble. This worked pretty well.

Frugal Minded M...

I'm on the exact same page as you.  


I'm a big supporter of allowance.  I think it helps kids learn a sense of responsibility and cause/reward.  If you do the chores, then you get $$, and vice versa.  It's not that I wouldn't pay for them when we were out for activities together, that's crazy.  I'd always buy my kids popcorn at the movies, etc.  But the older they get, the more I stress that if there are things that they want to do on their own, then they need their own money for it.  Allowance teaches them out to budget better, think about how they can save, what they can and can't spend money on, etc. Things that they would want to spend their own money on is going to the movies with friends, video games, apps, things that are really just extra and bonuses.  So allowanance at least gives them the chance to feel like they're earning it, and not just getting hand out from me and the mrs. 


Well said and agreed!


I did give my children allowance up until they were able to start earning money on their own babysitting and pet sitting. I thought it was a nice way to guide them on how to budget and save. They knew how much they were going to get each Saturday and the items that they wanted. They were able to see how hard it can be to wait and save up, but in the long run it was so worth it to purchase the item for themselves. I kept the expectation of doing chores separate from allowance. I expected both kids to contribute to our household, not for earning money, but for being a member of the family. Everyone chips in with household chores!


My boys are still young now but this is something that I am already thinking about. I think it is great for teaching them the value of money.  However, at the same time I don’t want them to feel as though the only reason they should help out around the house is because they are being paid.


We don't do a set allowence.  We use an app called Goodie Goodie.  My kids can earn points for doing chores that I ask them to do like unloading the dishwasher or cleaning up certain areas of the house.  Points are worth 1 penny each so 30 points = $0.30.  Usually tasks are worth no more than 100 points.  They can save them up an cash them out when they want something.  We did a surprise Disney trip at the beginning of summer so for awhile I wouldn't allow them to cash out any points.  We converted them to cash for spending money for the trip!I don't normally take points away for punishment but if they argue about doing a chore that I ask them to do, they have to do it for zero points.


I have never heard of that app before..sounds interesting! 

Frugal Minded M...

I tried an app for it and it got too hard to keep track of all of them.


I can see both sides of this conversation. Consequently I haven't really decided how we'll handle this. Right now I'm just trying to establish chores and responsibilities. Whether I will tie those to a dollar amount remains to be seen. I do feel like kids need the opportunity to manage money sooner rather than later, though.


We also give our son allowance but am currently re-thinking a better way to do so. I feel he needs more responsibility now that he will be 12.