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Allowance - if you give one, how much?


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Yes. Our rule is dollar amount equal to your age once a month until you turn 10, then it is twice a month. There are no chore requirements since we consider those to be an expected part of being a good family member. The kids are required to save 20% for post-highschool education, the rest is theirs to spend. The money is automatically transferred from my checking to their savings account on the first and fifteenth of the month. To spend it they must give 48 hours notice to have the money moved back into my checking, which makes them think over any purchases. All money gifted to them must also be deposited into their savings and is subject to the 80/20 rule. I cannot even remember the last time either one took out any money, but they request their balances monthly and always check up on their interest rates.

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I give the kids a certain # of tokens for each job they do. They put their tokens into their own jar (ok, it's a pretty vase). Each child has her own color tokens, so they can't be mixed up or... borrowed... from each other. When they do *all* their chores and earn all their tokens (50), they get $5.00. (If they are really on the ball, they can earn that $5.00 in about a week.) Once they have earned all their tokens, and have been paid, the jar is emptied and we start over again.

 

However, they lose tokens for bad behavior.

 

So... they usually get their $5 every couple weeks or so.

 

The tokens are a great way for them to see how much they've accomplished... and it really brings home the message to them that bad behavior is just really not worth losing credit for some of the hard work they've already done.

 

So, that's how we do allowance. :)

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My dd12 gets $4/week and ds9 gets $3/week. 25% goes into long term savings (not to be touched) and at least 25% into short term savings for things they want like DS games, etc. The rest they can do what they want with. I try not to buy some of the things for them like I used to - treats and such, so that they learn to spend/save their money and see the consequences. They are really due for a raise, so they will probably both be getting an extra $1 week by summer.

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ours is not consistent. It's the first thing to go when the budget gets tight, lol.

 

and our kids are young, so they only get a dollar for each year.....each month. So $6 and $4. Dh and I each get an 'allowance' too. It's spending money.

 

chores are assigned for everyone and allowance isn't tied to it.

 

I think when the kids hit preteen age we will change to a higher amount and be more consistent to the kids have their own spending money and don't ask us all the time for stuff

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Thanks for posting this -- it's interesting to see what others are doing. I guess I'm a little on the high side, but --

 

As of last summer, my 15 yo was getting $10.00 per week if he did his chores. We originally didn't pay him for those, also believing that it was his responsibility to help as a member of the family. But I spent too much time with nagging and do-overs. Once he was being paid for satisfactory work, that didn't end completely, but it did help a lot.

 

Then he came to me one day and asked if he could have $20.00 if he did more work -- and listed the additional things he was willing to do. I was really impressed, partially because one of them was doing the dishes, which he *hates* to do. So I told him we'd try it, but I wasn't going to play Cop -- if he didn't get his chores done, he wouldn't get his allowance.

 

It's worked pretty well so far -- up until just this last week. For some reason, he just took a vacation. So my wallet did, too. :-)

 

And there's no grey area -- no partial payment. Either I'm happy with what he's done, or I'm not. So either he gets paid or he doesn't.

 

I don't put any restrictions on what he does with his money. I thought about it, but wanted to see what he would do. Actually, I think he's doing pretty well with his priorities, i.e., how much he saves and what he spends it on.

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Allowance is tied to chores he must take out the trash and put down the trash can, vacuum the entire house once a week(3600 square foot house so this is a big job), empty the dishwasher, and get the mail(it's a half mile walk)

and keep the humidifier filled with water.

He also must keep his bedroom and bathroom clean and he does his own laundry. He has done his own laundry since he was 11.

He is also generally very agreeable to doing most anything else I ask him to do. This includes washing the car, setting the table for dinner etc.

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We give each (ages 10 and 11) five dollars a week, but it's not tied to chores (I don't want to keep track of all that). They're expected to do their chores as part of living together as a family. Their allowance IS tied to attitude. They're docked a dollar for any major outburst, and less for lesser infractions. I don't give them cash every week (I wasn't very good at keeping five dollar bills on hand). Instead, I keep a ledger of their allowance. I just write down their $5 each week (or less if they had bad attitudes during school or anytime). When they want to buy something, I give them money (or pay for it myself), and deduct the purchase from their balance.

 

Proabably more than you wanted to know, but it works for us.

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Not a regular allowance, but since ds keeps insisting that he's "saving for college," we pay him for extra work/chores. (He's 8, though. What's with this saving for college idea?:confused:) He has some regular chores, but doesn't get paid for those -- that's just part of being a family, IOO.

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Our kiddos get an allowance equal to their age twice a month, on Dh's paydays.

 

So, for example, our oldest gets $12 on the first and fifteenth of the month.

 

I have changed things this year. Instead of giving them their money outright, I have them fill out their deposit slips the night before payday, and all money (except for tithe) goes right into their accounts. All our kids are saving for something, but when they have money in hand it goes right out the window!! (Much like their mom!!)

 

HTH!

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I'm an allowance failure. I can't ever remember to give it to them. I can't remember how much I owe them. (Somehow the rounding seems in their favor when they keep track). I don't want a chart or a something else to mangage. But, dh will give them cash when they do extra work (above and beyond normal family jobs). I like the idea of allowance, but it just doesn't happen around here.

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Dc get $1/week per their grade level (this could also be done by age and they would get a little more). So ds in 9th grade gets $9 per week, and dd in 1st grade gets $1 per week. Very basic chores are required (bedrooms, bathrooms, nightly clean-up after dinner, etc.), but allowance isn't paid untill they're done on Saturday.

 

Furthermore, their allowances are mandated to be split 3 ways: 1/3 to spend as they wish; 1/3 into a short-term savings account in the bank to be used for a particular item or event or as certain things come up throughout the year; and 1/3 into an IRA (it's never too soon). So they get a very small amount to actually spend. This is to encourage them to be resourceful in finding ways to EARN their money. We have a list of "Bonus Chores" and what they pay posted on the refridgerator, and at any time they can be done for extra money. But every cent that passes through their little hands is subject to the 1/3 rule.

 

Dd (7) is great at saving her "spending" money in a bank in her room and can withdrawl and spend it at will. Ds (14), however, can't hold on to money to save himself and finds ways to spend it faster than I can imagine possible, nor does he take it upon himself to earn more very often even though there's very good money to be made in Bonus Chores. This is just the nature of two completely different children from the same family.

 

I know $3 spending money per week is nothing for a teenager (especially one attending public school with fast food and convenience stores within walking distance), but if he had more he would spend it just as fast. This has always been our most challenging child and teaching him the value of money is proving no exception.

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My kids get $2.25 per week.

$1 save

$1 spend

$.25 for offering.

 

I did it that way so I wouldn't have to "break" their bills to take out offering.

 

I don't really have "set" chores, but as long as they do basics like tidying and keeping room clean they get it. Also, I got tired of them breaking stuff and not being able to pay me... for example, my ds5 threw a brand new bottle of kids mouthwash. So he had to pay me $3 for it.

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It is about the equivalent of about 2 dollars every Sunday. They also get 2 dollars when they lose a tooth or money from relations who don't realise they still like to receive toys!

Sometimes Ds wants to save up for something and asks to do jobs for money. He might get 50 cents to a dollar for this. He is very helpful anyway though and is very happy to cook and clean for free. He has two bank accounts and has saved an extraordiary amount of money. Dd doesn't care about money and would rather read!

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Ds has a chart listing jobs and how much we'll pay for each. We check off each job when it's completed. At the end of the week, he gets paid for what he did. If he does everything, he gets about $6 a week. He's 11yo. (He also helps me at the rabbit rescue, and I pay him $10 a week for that - about a dollar an hour that he actually works.)

 

We use the Financial Peace Jr. kit. He has three envelopes: give, save, and spend. He really likes earning his own money, feels good tithing his own money, and of course loves being able to buy Star Wars action figures!

 

Wendi

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