allowance question

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    • #259426

      My kids are 6 & 9. I don’t give them an allowance for doing basic

      chores around the house that is expected of them. However, now that

      they are on vacation and don’t have homework, while I have increased

      the amount of daily chores expected of them, I have instituted two

      rewards: For doing the basics, they get to have their screen time the

      next day (they choose 30 mins of TV, computer game, or video game);

      for anything I deem above and beyond the basics they get a “bonus

      ticket” that will go towards a larger reward closer to the end of

      summer. Larger reward has yet to be determined, but my younger wants

      an ice cream sundae bar and my older one wants 2 hrs of screen time at

      one time. They have received tickets for such things as conserving

      water, doing chores w/out being nagged, showing compassion and helping

      to their sibling or a pet, etc.

      They each get a small weekly allowance, which started out at 50-cents

      when they were 5 and have received a 50-cent increase every birthday

      (while this allowance is probably larger than in some parts of the

      country b/c we are in the SF Bay Area where cost of living is high, it

      is significantly lower than many of their schoolmates). Once a week,

      we put 50% into Spend, and divide the rest into Save, Donate, Invest

      (they each have a piggy bank w/4 chambers but you can just have simple

      jars, envelopes, etc.). It is not tied to anything, though

      periodically when they have been extremely naughty I will fine them

      for misbehaving. I do make them pay for more things than most of

      their peers so they can decide how important it is they get a certain

      physical item, piece of candy, etc (they are surprisingly stingy most

      of the time). My goal with an allowance, no matter how big or small,

      is to get them to be good savers and spenders no matter what the size

      of their income (and I am hoping they will manage their money better

      than myself).

      Hope this helps.


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