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I find it interesting we're in a bad economic time (globally) and children get allowances. I often go places and see children who are too young to have a job buying things that clearly aren't for adults (i.e. the adult gave them the money to buy it for the adult).
And they couldn't have gotten the money as presents? Even younger kids do baby sit or mow lawns.
Parents budget in money for their kids when they can.....and the economy is on the upswing...though we still have a ways to go....still not getting why you are shocked that kids buy things they like or that parents give their kids money.
While I appreciate all the answers I've gotten, I'm really more interested in exact number. This is what is really puzzling me. Are children getting 2 dollars a week, 20 a week, 200? Are all your children getting the same amount? Did you get an allowance as a child? I know some people don't care to talk about money, so please don't reply if you're not going to answer my question.
Yes we gave our son an allowance. It was not tied to any chores. He was expected to do certain chores as a member of the family--not for reward. When he was in elementary school, we gave him a dollar a year of his age, per week. In middle school he received $15. per week. $25.00 per week in high school.
My son is 31, he was and still is conservative with his money. The allowance was a tool to help teach him financial responsibility. He had a checking and saving account from a young age. When he was 16, we helped get a prepaid credit card from BOA (he was responsible to pay the balance). When he was 18, after he demonstrated fiscal responsibility, BOA raised his credit limit, and the card was turned into a regular credit card. I believe that he still has that card today.
While I appreciate all the answers I've gotten, I'm really more interested in exact number. This is what is really puzzling me. Are children getting 2 dollars a week, 20 a week, 200? Are all your children getting the same amount? Did you get an allowance as a child? I know some people don't care to talk about money, so please don't reply if you're not going to answer my question.
I wish you luck with that statement...public forum and all.
I've already given my allowance philosophy, but my SIL had a chart that paid out certain amounts for certain chores (.50 to take the trash out, 1.00 to fill the wood bin, etc...). Whatever chore her kids did, they put their initials on that square and got paid accordingly at the end of the week. It also kept her kids from sleeping in late on the weekends, because all the "good" chores would be done by the first kid out of bed.
I find it interesting we're in a bad economic time (globally) and children get allowances. I often go places and see children who are too young to have a job buying things that clearly aren't for adults (i.e. the adult gave them the money to buy it for the adult).
Odd. I doubt if that is an allowance. If an adult gave them money to buy something for the adult, it's not the child's allowance being used.
Children who get allowances spend their money on things for themselves.
That said - allowances are intended to teach children to budget. My kids had allowances not tied to chores. They could earn extra money by doing chores that were above the normal. They had chores because they were part of the family and were expected to help keep the household running. We often did chores together when they were young, then as they got older they got chores to do alone. Allowances increased with age as well. Allowances eventually covered certain expenses as well as spending money - school lunches, bus money, etc. all came out of allowances. They could and often did save that money to use for their own purchases by packing lunch from home or walking to school.
When I was a kid there was some stuff I just had to do (the famous, "support the family" stuff). Some stuff I had to do in order to get an allowance - it was withheld if I didn't do the stuff. There was also "extra" stuff - big jobs like washing all the windows, raking the leaves, etc. I think that covered all the bases - it doesn't have to be "teach them they're part of the family so they have to do chores for free" versus "teach them how to manage money with an allowance" - you can accomplish both things.
When I was a kid I got an allowance but only up until the age I was able to go work and got a job at 14, after that the money train from mom and dad stopped though I never got much for allowance. I think it was $5 maybe $7 a month. I had a couple different cups basically a chairty/donation cup, a cup for whatever I wanted that week and like a longer term savings cup. I dont recall if my mom forced me or encouraged me to divide the money up among the cups but basically gave some to church, kept some for candy or a capgun or something and the longer term cp was if there was like a new video game I wanted I was saving up for. I think allowance is good and better than just buying your kid things as they are forced to manage money and save up for a bigger item.
Odd. I doubt if that is an allowance. If an adult gave them money to buy something for the adult, it's not the child's allowance being used.
Children who get allowances spend their money on things for themselves.
That said - allowances are intended to teach children to budget. My kids had allowances not tied to chores. They could earn extra money by doing chores that were above the normal. They had chores because they were part of the family and were expected to help keep the household running. We often did chores together when they were young, then as they got older they got chores to do alone. Allowances increased with age as well. Allowances eventually covered certain expenses as well as spending money - school lunches, bus money, etc. all came out of allowances. They could and often did save that money to use for their own purchases by packing lunch from home or walking to school.
I said the things they are buying are not for adults. Things that wouldn't interest an adult or that are being consumed right there.
I said the things they are buying are not for adults. Things that wouldn't interest an adult or that are being consumed right there.
I don't get why it concerns you what kids buy with their money if it's not something dangerous or illegal. Do you think kids shouldn't have spending money?
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