View Poll Results: Poll: Do you give your child/children allowance?
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07-20-2011, 07:26 AM #1
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- Apr 2010
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Weekly Poll: Do you give your child/children allowance?
Until about a year and half ago, we didn't give my boys an allowance. Both my hubby and I believed that they should do their chores,etc. without being paid because they were contributing to the family household. We had always given them anything that they needed or wanted (within reason, like a new book, trading cards, etc.) but then my teen started going and doing more things with other teens. It got to be a lot of extra money that they were giving him and he never really realized that it was any big deal to ask us for money. So that is when I talked to my hubby and we decided to give the boys an allowance. When we told them they were over joyed to say the least UNTIL I told them that now they were in charge of what they could buy or go and do with that money. That's when the teen realized that any extra things that he wanted to do were going to be "on" him. I spent a week talking about budgeting, saving and anything else money related. Both boys were then told if you have the money and you think that it is something you need or can't live without, you don't have to ask for permission to buy it. I also informed them that it included books which up until that point we had been buying them probably once or twice a month. They were also required to buy or make birthday and xmas presents for their brother and us out of that money.
I have to say that there have been times when I wanted to give in and just get them something when they didnít have enough to buy it! (especially the books) OK maybe I caved a time or two
Now I have two boys who know just how much things cost and you would be surprised the number of times they have put something back because they didnít want to spend the money!
So do you give your kids an allowance? Why or why not?Pandahoneybee - Site Moderator
Homeschooling two boys (17 and 12),3 dogs, 3 fish, 2 goats, 5 guineas and one grown man in NC since 2007!
my personal blog http://pandahoneybeeshomeschoolingad....blogspot.com/
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OK I THINK THAT'S IT!
07-20-2011, 08:04 AM #2
We started giving DS an allowance on his 8th birthday. He's always been super responsible with money--he'd rather save than spend--and really almost never asks us to buy something for him. Of course we love to buy him books whenever he wants! but he's never been one to demand stuff just for for the sake of getting something new, or just because it looks cool. He can admire things at the store but not want them for himself, if that makes sense. That hasn't changed now that he has his own pocket money (the exception, always, is matchbox cars! but even then he's very frugal and wants only specific models--he can wait very patiently to get exactly what he wants).
He's also very responsible around the house and had been taking on a lot of extra responsibilities around that time (and they have continued). His allowance isn't tied to "chores" (we don't use that term) because to us, helping out around the house is just part of being an active member of the family and shouldn't be rewarded with material things. Instead, getting an allowance is a symbol of him growing up and having the opportunity for some financial independence. So far he has put $30 in his savings account and is feeling mighty proud.Mama to one son (11)
07-20-2011, 08:05 AM #3
Chores and housework are a separate thing from allowances in our house. We expect them to just do it.
Allowance is $1 a week plus 5% interest on anything they've saved from previous weeks. As they get older it will increase a little, though if they save, it actually increases a lot, I might point out.
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07-20-2011, 08:14 AM #4
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- Jun 2011
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I voted Yes. My ds is 9. He gets $2 a week. Here's why:
He is a huge Godzilla fan. He spends most of his free time arranging his collection of Godzilla figures, reviewing his figures on Youtube and watching other kid's reviews. He also likes watching auction of Godzilla figures on Ebay.
Those figures are EXPENSIVE. He has to save up for them. He loves taking the money out of his wallet, counting it, figuring out how many more weeks it will take for him to be able to afford whatever figure he has his eye on next. It's been a great way for him to put his Math skills to work without him realizing it.
Before we introduced an allowance system we read Joy Berry's book, "What to do When Your Mom or Dad Says...WE CAN'T AFFORD IT!" with him. It explains how a family income and budget works. This helped him appreciate more where our money goes and why we couldn't buy a toy for him every time he wanted one. Now he appreciates that when the paycheck comes in on Friday, in addition to all the ways we use that money to take care of him, we also allow him to make some minor decisions about where money for him can be directed.Get your geek on.
07-20-2011, 08:23 AM #5
I chose other, just because our kids are not given allowance, they have to earn it. They can earn a dollar a day, payable weekly. To earn their allowance they must do all their daily chores. Chores are considered duties beyond clean rooms and keeping their stuff picked up around the house and yard. Like feeding & watering the chickens, ducks & geese, sweeping & dusting, working in the garden, collecting eggs, caring for pets, etc. If the work isn't done there is no allowance. I do not buy them toys/games anymore (except Christmas & Birthdays) but I do buy books.
07-20-2011, 09:29 AM #6
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- Jun 2011
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07-20-2011, 10:00 AM #7
We don't give allowances. However, the kids have laying hens. They take care of them, pay for the feed, and they keep the profits from selling eggs. They also both do paid yardwork for a neighbor, and my daughter babysits.
They both belong to 4-H and pay for all of their project supplies. We believe that they make generally very good purchasing decisions. Regarding the 4-H, it motivates them to do a really good job on their projects since they've paid for them. It also causes them to really think about "frivolous" purchases.Carol
In our ninth year of homeschooling zanily creative dd (17) and programming-happy logical ds (16)
07-20-2011, 10:32 AM #8
Yup. My son gets $1 per week just for the sake of learning how to manage money.
He receives an extra $1 if he does chores above and beyond taking care of his own room.
As far as managing and saving his money, he is very good with it. He will save up for something expensive that he really wants - he has saved up enough to buy Wii or DS games, or rather expensive Lego sets, again and again. It serves to teach him that delayed gratification is just as satisfying as having mommy whip out her wallet to buy him a toy.
07-20-2011, 10:50 AM #9
We never used to, but about 8 months ago we started. I realized we were always buying little things for the kids and I would save money and they would learn if they had their own money. That being said they are not good savers! The older 2 get $2.50 a week or $10 a month. I usually talk to them about what they want to purcahse with their money. They both have saved up for big things. For example this year their birthday gift was $50 toward a nintendo DS they raised the rest of the money through christmas gifts and allowance. My middle son spends money before he has it, but the oldest one usually saves for lego sets. They don't have savings acounts though. I also no longer buy them toys, or treats at the stores(except birthday/christmas). We occassionally buy them books but we use the library a lot.Lee~Mom to 3 boys 7(ASD),5 and 1.
07-20-2011, 11:32 AM #10
We give 'allowance,' but I do it oddly. I made funny money color-coded by kid. Each child gets a certain amount at the beginning of each month. Their goal is to *KEEP* the money through the entire month. This is not hard. They can lose money if they don't do their chores properly or when asked (DS has a bad habit of stuffing his clothes behind furniture rather than putting them in the hamper, and he loses $1/item of clothing; DD loves to yell "NO!" when told to do something, which is an automatic fine of $1 as well) or if they cop attitude with me or someone else after being warned to knock it off. They can earn extra money - or earn money back - by volunteering for extra chores or doing kind things for others. At the end of the month, I total up what they have and divide it in half. Half goes straight to savings, and the other half goes into a 'debit' account with me. They can use this money for anything - clothes, toys, treats, etc. - but they really don't. DD has spent a grand total of $8 this year. DS saved his money and bought K'Nex robot kits. The first thing they always ask me when they're contemplating a purchase is, "How much will I have left?" DS is gunning for a 'raise' for his 9th birthday in a few months... I'm considering it, but I think if I do that, it'll come with the responsibility of learning how to budget for his own clothes or groceries each week.---
Sarah B., Oklahoma
"By three methods we may learn wisdom: first, by reflection, which is noblest; second, by imitation, which is easiest; and third, by experience, which is the bitterest." - Confucius
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Less-than-Zenlike mother of:
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M2 - The Girl, age 9, home since 2012 - loves anatomy, the arts, and her violin