Brad's son Mac is 5 years old and is asking for allowance because there is a boy in his class who gets money everyweek from his parents. Brad is in a delima what should he do.
Are you haveing the same dilema? What did you do for your children? Did you get allowance when you were a kid?
Experts say ages 5-8 are considered a good time for starting allowances. One rule of thumb suggests 50 cents for every year of age. A 6-year-old would get $3 each week or month, depending on your budget. Hand over the allowance the same time each week. To keep track through the year, give your child 52 homemade IOUs to exchange for the weekly allowance. Experts are divided over whether to tie allowances to household chores.
5 comments:
WOW !! This is one that can mold a child. Makes sure you child understands that an allowance is a privlege and not a right. I have seen children "expect / want monie" in addition to their allowance. Instead of asking for the small things such as candy they start asking for money instead. Children also need to earn the right for such a privilge. I think today children have become so reliant on parents they do no realize the value to work for something. Do you rememeber when you were a kid and wanted something. Your first though was how can i raise some money to get this. Mind set of children today is to just expect.
My kids are 8 and 11. they both get an allowance, my son (8) gets $2 at the end of each week but he must earn it by feeding our pets everyday and keeping his room clean. If he falls short of that then he doesn't get it that week and he knows that. My daughter (11)gets $20 a month put into an account for her and she does more housework to help out. Both are saving their money as we taught them how over XX amount of years they could have so much and put it towards their first car or a laptop or something of value.
I think if done right, it instills good values and responsibility in them.
Yes. We started this year with our 7 year old; however, she has a list of chores (making her bed, doing dishes on the weekend/days off school, putting away her laundry, cleaning up toys). We are trying to teach her to save some and have allowed her to spend some as well. Now that she gets an allowance, we have told her that she will pay for gifts when invited to a birthday party. I don't believe it is useful to give them an allowance but turn around and pay everything for them. We also stress that helping out at home is part of being a family so allowance or not, our children are expected to do their part.
I don't agree with the idea of monetary allowance for children. My children are taught to do chores to help their family and to be part of the family, not in order to get some money. When we help others, we don't expect to get paid, do we? So why to teach our children that being kind and helping others have to be compensated!?
My kids are 10 and 13 and they both get allowance. BUT... every cent of it is earned. They have a chart of different chores that they can do and what each one is worth. So for the whole month the keep a tally of what chores they have done and then at the end of the month they total it up and I give them what they've earned. (keeping in mind that I ensure that they have actually done all of them.) Last month my 10 year old earned $32.00 she was sooo proud of herself and now that she has the cash she doesn't want to spend it cause she said that it was so much work to earn that now she has started saving. Of course you could put a limit on how much they can earn and tailor it to certain ages, but overall allowance if done right is a perfect thing for every kid.
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