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06.19.08, 11:27 AM New York City
19 replies
Does anyone give their dcs an allowance anymore? DD is 5.5 and we are thinking of giving her chores and an allowance every week to start to teach her about saving, etc. I'd be interested to hear whether anyone else did something similar and how it was enforced, etc. tia. [ Reply | Watch | Flag ]
New York City 06.19.08, 11:27 AM Flag
 

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I like this idea and have been thinking of it for the future (ds is almost 4 so not really possible yet) [ Reply | More
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General Topics 06.19.08, 11:28 AM Flag
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Don't give an allowance for chores that she wouldn't ordinarily do. Things like keeping her room clean, bed pulled up are enough for a 5yo, maybe feeding a pet if you have one. And keep the allowance small ($1), but don't make it a bribe or punishment for good/bad behavior- use it as a teaching method to show her how to use money. [ Reply | More
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General Topics 06.19.08, 11:30 AM Flag
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^^ and make her keep half of it to save every week, then when she's built up a certain amount ($20 or so?) tell her you are going to match the amount and go with her to a bank to open a savings account. [ Reply | More
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General Topics 06.19.08, 11:31 AM Flag
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OP: right... it wouldn't be about behavior -- it would be about earning money. If she did the chores, she'd earn it and if she didn't, she wouldn't. I was thinking more along the lines of $5 per week. why $1? [ Reply | More
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General Topics 06.19.08, 11:32 AM Flag
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No - you can't make it about earning at age 5. Also, what does a 5yo need $5/week for? Keep it small - its really a token at this point. From age 7 do $1/year of age [ Reply | More
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General Topics 06.19.08, 11:34 AM Flag
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we do, but didn't at that age. and we don't tie it to doing chores. that is expected, not rewarded [ Reply | More
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General Topics 06.19.08, 11:31 AM Flag
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np: itta. [ Reply | More
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General Topics 06.19.08, 11:32 AM Flag
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OP: so you give the allowance as a matter of course, even if the "expected" things aren't done? [ Reply | More
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General Topics 06.19.08, 11:33 AM Flag
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yes, that's a different conversation [ Reply | More
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General Topics 06.19.08, 11:35 AM Flag
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i don't like the idea of an allowance. i'm not really sure why. [ Reply | More
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General Topics 06.19.08, 11:33 AM Flag
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it's a valuable way for them to learn to manage money [ Reply | More
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General Topics 06.19.08, 11:36 AM Flag
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yes, if you make it an actual "allowance" and not tied to doing chores or good behavior [ Reply | More
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General Topics 06.19.08, 11:37 AM Flag
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that's what we do. I'm OR who said it's not tied to chores [ Reply | More
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General Topics 06.19.08, 11:38 AM Flag
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But if you don't tie it to doing chores, etc., what is it you are teaching? [ Reply | More
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General Topics 06.19.08, 11:39 AM Flag
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np: i hear this question. why just give your kids money. and if you make them save a portion of it, you aren't really teaching them anything. [ Reply | More
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General Topics 06.19.08, 11:41 AM Flag
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I'm sorry but I really don't understand your post at all [ Reply | More
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General Topics 06.19.08, 11:42 AM Flag
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sorry. i meant that i can understand why you wouldn't want to reward chores by giving payment for doing chores. but i don't like the idea of just giving your kids money for the sake of giving them money. [ Reply | More
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General Topics 06.19.08, 11:44 AM Flag
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it's to help them learn to manage money. to save for things they want. to buy gifts for family and friends. to recognize that they can't have anything they want if they can't afford it. to make those kinds of choices [ Reply | More
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General Topics 06.19.08, 11:46 AM Flag
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managing money [ Reply | More
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General Topics 06.19.08, 11:41 AM Flag
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