I was just reading a blog about the pros and cons of giving your child an allowance, and this brought back memories. I remember a great debate when I was about grade school age between the kids on the school bus. Who got an allowance, who didn't, what chores you had to do, some kids got paid for good grades on their report card, etc. I did get an allowance, 5 cents a week, when I was in elementary school. Then I think it went to 25 cents in middle school, but by the time I was in high school, I was babysitting every weekend, and had more spending money than my Mother. I did give my kids an allowance. I knew they needed to learn how to manage money, and they couldn't do that if they never had any. It was not tied to chores, or good grades, or anything else. Oh yes, they all had chores to do, "we all work because we all live here together" was my motto. And I don't think that witholding the allowance because they didn't do their chores ever happened either, they ALWAYS did their chores. That sounds very whip and chair, but it wasn't really. With four kids, nobody wanted to get stuck with whatever the slacker didn't do, after a certain point, they kind of policed themselves. When they got to be 11-12 they did jobs around the neighborhood and got paid, so they made their own spending money. When they got into high school, and got a "real" job, the allowance stopped. I did tender a loan occasionally for a major expense, but they always paid me back. Although DD#2 is allergic to the word budget, and I sit down with her every few months to help her figure out why she's broke (again). Some people are just like that. Anyway, I was just thinking that my kids got about $10 a week by the time they were in high school, and I need an allowance like that! Fun money is one of the things that the experts tell you to build into your budget, so you don't get too bored, and sink the whole thing. However, they didn't tell me which bill to stop paying, so I could spend money on something fun! Maybe I need to re-read that section, I think something was lost in the translation. Wouldn't be the first time.
Wheres MY Allowance?
March 3rd, 2010 at 11:38 am