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How much allowance do you give your kids?

JEDI

JEDI

Lifer
http://lifehacker.com/how-to-teach-young-kids-budgeting-habits-early-on-1528970036

simple rule that adjusted as our kids aged, so we settled on $2 per week for each year they are old. Our 17-year-old gets $34 per week. 😱

but they also apply that to themselves on their own spending accounts.
so they are consistant and lead by example of living within their means. <nice>


obligatory:
this is atot. guys that live in their moms basement needs to lose their virginity 1st
 
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$5/week. kids are 10 and 12. they do a few things on saturday/sunday specifically and then during the week do the dishes and some odds and ends.

they are allowed to spend their money more or less as they please. for some things they want i tell them they have to buy it or i will split the cost [depending on the cost and if the "want" is an upgrade to a "need", for instance].

the boy is a little quicker to spend his money, he might have 20 bucks or so usually in his wallet. the girl will often have double that.

if they get in trouble losing their allowance, or part of it, is one of the first punishments. they also have to help pay for, or wholly pay for, anything they break or damage.
 
Not a parent but when I was a kid and living at home, it all depended on how much work I did. The more chores I did, the more I would be compensated.
 
Mixolydian said:
Not a parent but when I was a kid and living at home, it all depended on how much work I did. The more chores I did, the more I would be compensated.
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that doesn't work anymore.

entitled kids nowadays think missing allowances is a good tradeoff for not doing chores.
and they still get their Xbox's and iphones from grandma
 
Never had an allowance as a kid. I was still expected to wash the floors, vacuum, do dishes, pick up the dog poop, ect.

My parents did pay when my brother and i helped with yard work type stuff. Would give us 20 bucks or so for helping out in the yard for 4 or 5 hours. Same my mom would pay us 5 bucks for each tree we cut the ivy off (it kills the trees eventually). So if we wanted something we had to work to earn it.

Of course from time to time I could ask my mom or dad for a toy and if it wasnt expensive they would just buy it. but that was pretty rare we asked.

I actually prefer how my parents did it instead of a set allowance. It was responsibility to do the chores around the house. Then if we wanted something we had to work for it. And its not like the work was hard. Stacking firewood, picking up the branches they cut, stuff like that.
 
I didn't get much of anything for allowance until I started mowing the lawn for $5 a week.

That would be worth about $8 now.
 
No allowance here. My kids earn the things I make available for them through what they do. TV time, computer time, cell phone for my daughter. I tell them they want us to drive them all over and let them have this stuff so they have to earn the privileges.
 
My daughter is only 2.5 but we put about $40 a month in change in her piggy bank. I know this because we empty it monthly and put it in the bank. I imagine when she is old enough for a actual allowance I will probably refrain from giving her a weekly paycheck but rather just give her money when she needs it or it makes sense to do so. I never really got behind the whole 'allowance' thing but will do my best to instill the values of earning money the best I can.
 
growing up in the 90's, I got $10/week from about 2nd grade through junior high... it increased to $20 in high school, but that extra $10 was for commuting costs ($1 subway ride back and forth to my school, though I jumped the turnstile as often as possible to pocket the extra buck). allowance wasn't tied into chores; chores were just something I had to do, not something I was paid to do.

they also gave me $5 to buy lunch on Fridays, but like the subway fare, I'd often skimp and just buy a big plate of fries for $1 so I could pocket the extra money.

it was a good lesson in saving :thumbsup:

they didn't reward good grades specifically, but it wasn't unheard of for my dad to take me to the mall to buy a video game after an especially good marking period.
 
I received $150/month in high school. Which was expected to cover my costs driving myself to sports practice, music rehearsals, school and weekend stuff. Was a win-win for my mom, she had loads of free time back (no more driving me around) and overall gas expenditures dropped because trips became a single round trip rather than multiple.

Only weakness in the system was that my mom couldn't punish me much, revoking driving privileges mostly burdened her, so it was always an empty threat. Then again I didn't exactly cause much trouble in high school, got decent grades, played a lot of video games.
 
It's been a while, but between filling gas tanks (bought each of the kids a car), and spending money, probably about $75 each per week. If you consider spending on their hobbies, much more. E.g., a weekend at the race track, running 250 class, 450 class, under 25 class, etc., new tires, fuel, etc., that was a big chunk of change. In other words, they were spoiled.

And, they turned out just fine.
 
OVerLoRDI said:
Only weakness in the system was that my mom couldn't punish me much, revoking driving privileges mostly burdened her, so it was always an empty threat.
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Yep. Living in the country, picking a kid up after practice, etc., especially with kids involved in multiple sports and other activities at school - getting them cheap cars & paying for gas was really to lessen my burden. 🙂
 
A dollar a week in elementary school for things like taking out the trash and occasionally sweeping the patio. A bit after, it increased officially to $5 a week with the addition of more chores (I took care of most pool maintenance), but in practice we didn't have many opportunities to spend it and ultimately it meant that our parents would buy things we wanted if they approved.
 
$0. They want money, they need to earn it. I already pay for their internet access and their cellphones. Jeebus, now you want me to just hand them money?

One thing I do do, however, is match whatever they stick in their savings. One rule, savings can't be touched until they turn 18.
 
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My parents said Food and a roof was my allowance. When I got my first out of home job at 12 they took 10% of everything I made until I moved out, for room and board...
 
Jumpem said:
Why does your seventeen year old not have a job? I had been employed for five years by that point.
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I think with today's laws you can't really work at 12, but it shouldn't be an issue one you get to 15. I had a job and paid for my own cell phone and car insurance at 17.

Never really had allowance
 
JackOfHearts said:
My parents said Food and a roof was my allowance. When I got my first out of home job at 12 they took 10% of everything I made until I moved out, for room and board...
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what a bunch of fuckers, I understand food and a roof being your allowance, but taking 10% of your money at 12 is pretty low.
I stayed at my parents after I was 18 but I had to pay 100$/week for room and board, which I felt was reasonable, before that my money was mine.
Recently my mother even offered me free room and board if I wanted to go back to school, I didn't take her up on the offer, but it was still there
 
gorcorps said:
I think with today's laws you can't really work at 12, but it shouldn't be an issue one you get to 15. I had a job and paid for my own cell phone and car insurance at 17.

Never really had allowance
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I can't speak from personal experience (neither being nor knowing anyone in the 16-22 demographic) but it feels like that's not the normal employment experience anymore.

it doesn't seem as easy for a teenager to get a job at McDonalds nowadays when they're competing against college grads for the same minimum wage jobs.
 
wow a 17 year old gets allowance? i definitely will not be doing that when we have a kid. if my kid wants money he will be getting a job when he's 14, just like i did and my wife did.

up until around that age though i will give an allowance just not sure how much yet. probably like $10 bucks. they can also earn their own money baby sitting or cutting grass, raking leaves, shoveling snow, etc.
 
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