What "Allowance" Do You Give Your Kids?

[gprsh924]

Make her document the spending, then give her 50 cents extra next month for every dollar she is under allotted amount of $30 and then she will also learn how saving and investing works.

[Zeke]

Allowance. I got lunch money + a little for the corner store on the walk home from school. I learned early on that I could make more money "outside the company." Soon, I was making and spending money like a fiend. I think I hit a crescendo about age 17.

Every year since I've gotten a little poorer. I should go back to washing windows at the beach. I was making 20 bucks an hour at age 16 in 1963. I didn't need no stinking allowance.

But, my dad did pay for auto insurance because he figured I wouldn't buy enough to protect HIM.

[nynor]

Originally Posted by gprsh924

Make her document the spending, then give her 50 cents extra next month for every dollar she is under allotted amount of $30 and then she will also learn how saving and investing works.

i like this idea. but .50 on the dollar could get outta hand fast! i'd do that but set tiers, where if the money gets over $100, it becomes .25 on the dollar. i realize this is not like the real world, but beyond a certain point, they could put there money in an actual fund or something.

[gprsh924]

I wouldn't have it roll over every month, that way if even she didn't spend a dollar for many months on end, the most she could get in a given month is $45.