What "Allowance" Do You Give Your Kids?

[HHI944]

I got an allowance until I was 15 and got a job. My dad still won't let me pay for anything when I go to visit him. He comes by it honestly though, it was hilarious when he and I went to visit my grandmother last. There were constant fights over the check when we went out to eat and then the SOB slipped some cash into my bag when I wasn't looking to cover the cost of the plane ticket.

[jyl]

There were constant fights over the check when we went out to eat

This is common in Chinese families. The way to do it is, before dessert comes, you get up and go to the bathroom, quietly go to the waiter and give him your card/payment. Then the fight's over before it ever starts.

[HHI944]

Yeah, but we're all southerners. We get loud and try to give each other money if someone pulls that stunt.

[jyl]

I am happy to pay them but they need to reciprocate with clean rooms / doing chores / etc

My theory was, I didn't want to pay them specifically for doing chores, because I didn't want them to develop the mentality of wanting to be paid every time they lift a finger. So the rule is, they have to do chores simply because we tell them to. The allowance is sort of a "nuclear option". Same w/ schoolwork. That said, no-one would argue that my kids have it rough.

[Don Plumley]

Now both kids are teenagers with cars, I give them a routine amount every month to cover gas and a little entertainment. I echo the comments that their job is to be good students.

When they were younger, wanting to encourage savings and knowing that the dismal return they were getting in bank accounts, I set up a Family Bank. They had a weekly allowance of a few bucks, and they could choose to take some or all of it. When they received monetary gifts for birthdays, etc., it would also be deposited into the Bank. Any amounts they did not take out from big presents or from the weekly allowance were "matched" at 50% like a 401K - with a six months vesting period. This way they could see how fast money being saved and not spent could grow. As the savings got larger, they could buy more significant stuff (like used laptops).

This was my way of instilling a savings mentality instead of a spending mentality. When my son had a part time job, he saved enough money to buy an E36...

[jyl]

Yeah, but we're all southerners. We get loud and try to give each other money if someone pulls that stunt.

True, but at least you start with the advantage - sneaky Asian tactics

[HHI944]

I'll try it next time the family meets up, but I'm blaming you if one of my uncles or my father hits me.

[David]

15yo son, $15 per week

[jyl]

Oops! I went home, all prepared to slash my kids' allowance, armed with the wisdom of PPOT.

At the dinner table, when I launched into my speech, my daughter informed me, not unkindly, that her allowance was actually $30 per month, not every two weeks, and that her brother only receives $20 per month. She asked if I was getting old?

I could swear I've been giving them that sum every other week - but I don't really remember (could I really be getting old?) - and my wife backed up my daughter. So I was deflated and, well, here I come slinking back.

Err, what do you think about $30/month for a 13 y/o?

[nynor]

i think that is reasonable. does she have a cell phone? if so, she can pay her own bill with it.

[jyl]

She does have a cellphone. But she doesn't use IM or text, only makes a call every couple of days to me or mom. So the bill is minimal, just $10 tacked onto my bill. Her main expenses are fun clothes but she buys them all at the funky used/vintage store for $5 a piece. Lately I've been buying my clothes there too. I guess it's my inner hobo.

[Schrup]

Originally Posted by jyl

She does have a cellphone. But she doesn't use IM or text, only makes a call every couple of days to me or mom. So the bill is minimal, just $10 tacked onto my bill. Her main expenses are fun clothes but she buys them all at the funky used/vintage store for $5 a piece.

This is very odd behavior for a 13 year old girl.


My 7 year old boy doesn't get an allowance. He doesn't need one, his mom buys him anything his little heart desires. I will try to bribe him for As when he gets closer to high school.

[porsche4life]

My parents bribed me for As when I was younger.... Then they realized I made them without any work.... There went the bribes..... Then I realized that As and Bs were just fine.... Still no bribes...


Now I'm on the C's get degrees plan...

[jyl]

This is very odd behavior for a 13 year old girl.

She listens to jazz e.g. Coleman Hawkins, Charlie Parker and John Coltrane; prefers the popular music of the 60s-80s from Michael Jackson to Jimi Hendrix to today's pop stars; reads constantly and yesterday was excited at finding a hardbound copy of "A Farewell To Arms" in the free book bin; wants a DSLR more than an iPhone; is fluent in French and now learning Chinese; doesn't gossip; loathes Abercrombie, American Eagle, Aeropostale, Juicy; wants to go to Harvard; etc. Interesting kid, I am happy w/ her.

[BReif61]

Man, I remember I got $1 per A, 50c per B, and nothing for anything else. No allowance, only money was from birthdays/Christmas and doing odd jobs around the neighborhood.

And I'm only 24; it's not like it was huge sums of money. I turned out just fine; made me realize that I had to work to earn the things I wanted. I had a PT job from 15. My parents bought my older sister a car when she turned 16, which was then handed down to me. If I wanted something better (of course) it came out of my pocket.

I see no problem with the way i was brought up; we never needed anything. Clothing, shoes; our parents set a budget for school/summer clothes and we worked with that to get what we needed.

[MT930]

Our kids suffered equal amount during the economic recession, no allowance until conditions improve $4.00 per week was the pre 2008 Rate. Welcome to being a grown up.

Chores include taking care of Rabbits, Ducks, Cats, Horse, Dog 11 Total critters as well as weekly barn cleaning. The allowance is getting to keep them.

They do get a grade A education and summer camp this year.

They are also required to Bank 1/2 of monetary gifts from Christmas And B-Days.

I have never heard any complaint's.

Harsh Maybe ? They will thank me someday.

[Ferrariguyma]

We wanted our 9 year old to learn the value of money and the importance of budgeting/tracking money. We started our daughter Bella out with $30. on the first of the month. She does not have any "chores" tied to her allowance as we feel she should help out around the house because she is part of the family and not because she is compensated. Bella started Jan 1 with $30. we asked her to get receipts for every dollar she spent for the month. At the end of the month we sat with her and totaled the receipts. The $$$$ she got for Feb. was the total of Jan's receipts. and did the same for each month following. This May her "allowance" for the month was $21.50 Not bad for a 9 yr old! Now if she becomes President the country will have me to thank! :-)

[jyl]

Wait a minute - her incentive is to spend more because that increases her next month's allowance? I don't get it.

[Buckterrier]

When I used to have a budget I was told to stay on it maybe a bit over. If you are under budget you get less money the following year.

[Ferrariguyma]

We want her to keep track of how she spends her money. In a perfect world she will learn NOT to spend the full amount each month, but first things first we want her to be able to keep track of what she spends and document how it was spent.

For the month of Jan we gave her $30.

every month following the allowance amount was the total receipts she had from the previous month. If she loses track of any money that means less allowance for the next month.

It might sound complicated to you but it works pretty well in our house.