Kailani over at http://islandlife808.com/ runs an Aloha Friday. It's so much fun to visit everyone's blogs and see their question of the week.
So, my question this week is:
What are your thoughts on giving children a weekly allowance?
Audrey :)
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35 comments:
Hmm I think its a good idea.. teaches them the importance of money and saving.
My philosophy is that if my kid needs money he can ask for it. If he hasn't been pulling his share around the house then he may not get the extra money to do something fun.
I also encouraged my oldest to work to buy things that I won't buy - that way he has discretionary money. When he was younger I would set aside some "mad money" for him to buy something fun or frivolous as long as he behaved.
I think it is a good idea. I'm with Tara it teaches them about saving.
I'm not sure about this one. I think kids need to help because they are family and it's a responsibility, but I do think they need to learn to save and how to work to earn
I agree with Nate and Jake's mom as that's how I was raised. I was a good kid and was rewarded for it :)
Great idea! My kids have some chores, if they don't do them, they don't get their play money.
Good, because it gives the children a way to buy what they want without being completely dependent on Mom and Dad. This enables them to budget, save, learn the value of money, and enables Mom and Dad to say "no, you need to buy it yourself if you want it." I mean, Mom and Dad can't say that if the kids have no real way to save or budget money.
Bad, if the kids don't earn it. If they just "get" it from Mom and Dad then what is the difference between Mom and Dad paying for everything themselves?
We have basic things that the kids are expected to do. Then they can earn an allowance by doing additional things to help out.
My daughter doesn't really get a weekly allowance, though at 4 she has 1 task that she is in charge of, she feeds the cat. Every other time, or every 3rd time, I'll give her a dollar to say thank you for being responsible.
I think it is a great idea, and should be adjusted for the age, and chores completed by the child. My husband and I like to teach our older boys that they always take 10% off the top and tithe in church, then save 20%, and spend what is left. Of course, this is our personal belief. Great question!
We do an allowance for our kids. We teach them to tithe (or donate to charity) & also to save some of it. Then they are left w/ a bit that is strictly theirs to spend. So far so good. Son has a decent amount in the bank towards his first car which is still 4 yrs away.
It is better to give them a thing what they need rather than money.
I give my 13 yr old $25/month and her chores are to clean the kitchen and empty the trash and dust once a week. I also buy her whatever she needs so she never spends her allowance. She is smart. LOL
I also agree with Tara as I think it teaches a child about money. We always taught them the importance of managing their money.
My kids don't get an allowance. That may chance, since they're still pretty young. Right now, they're expected to do basic chores like picking up after themselves. If they do additional chores, like helping wash dishes, they get one mark on their chore chart for each chore. A mark is worth 50 cents. So far, my kids have been really good at saving their marks for big toys they really want. I'm so proud of them!!
As long as they do their chores it's a good thing. Just giving them cash to sit around watching TV doesn't really teach them anything.
http://iamharriet.blogspot.com/2009/05/friday_29.html
I think an allowance is a great idea, but I don't think it should be tied to chores. Otherwise, they learn that the things worth doing are those that you get paid for. Chores are necessary for just being a citizen of the house, they shouldn't be paid to clean up after themselves or for helping out.
I think they should get a set amount that allows them to do something fun and buy something small or save. They can decide how to spend it.
I think it is a good idea. Wish I could be consistent with everything though. My schedule gets the best of me and we all forget to follow through. So, it is my fault we dont follow through.
I think it is a good idea for them to have chores to earn the money and then be taught how to manage it and save it.
As long as they do their chores I think it's a good idea. I believe they learn that they have to work to earn. I don't want lazy kids who expect to get money for doing nothing!
Very good idea. Helps them learn about money and being responsible for themselves.
I'm all for a reasonable allowance that is earned through chores and expected to be used to learn to budget for all the 'extras' that kids want, but don't really need. That's not to say they can use it anything. Depending on their age they'd still need permission to spend it.
It may sound strict, but a mom from our girl scout troop didn't care what her daughter bought with her "own money" and she was buying CD's that gave a street education in a song and exposing all the other girls to it.
After a few complaints the moms got together to listen to them and there were things in those songs that many of us moms didn't know!
Not sure. sometimes it just doesn't seem right. them other time it can be good for the child to learn how to manage money. Doesn't seem to work for my family. I still hand out cash,lol.
We just recently started giving my daughter an allowance. I want her to learn the importance of earning money for the things she wants instead of just thinking that money grows on trees ;)
Happy Friday and Thanks for stopping by my blog!
We have been wanting to give our children an allowance. We thought to give them the amount of money equal to years (8 year old = $8). Per month or bi-weekly. Friends have said they see the importance when the children respond to doing chores without complaining and learn how to manage their own money.
I have not started a weekly allowance but he does earn money when he does different tasks to help me out around the house. Oh my son is 6.
I think an allowance is a wonderful thing. I know that it helped me to learn to save and have goals for items that I wanted to purchase. We will definitely be doing it with our boys when they get older.
We never gave the paid the boy, as the boys were expected to help out around the house. Now they are teens and have jobs.
I loved it when I was a kid! I don't have any children, so I really can't say.
I think it's essential to helping kids learn how to manage money. I'm trying to work with my 3 year old to get him to do simple tasks so that he can earn money to buy things he wants, like ice cream from the ice cream truck.
We give our daughter a monthly allowance and it helps her to understand the value of money because now instead of having to tell her no about extras she wants we tell her if she saves up or she wants to pay for it she can get it. Put more responsiblity on here i think
I am all for it. They learn they have to work for their money and they learn they have to save up.
good idea...but i have no idea what the going rate is for allowances
Absolutely. It's a great way to start learning financial management.
Though you need to spend time teaching, too. For instance, say "No" to candy requests, unless they want to spend their own allowance.
I like the idea. I like that it teaches kids the importance of being responsible with money, and that if you want something, you have to save for it!
my kiddo is 3.5 and I know he will have one but he will have to work for it.
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