Friday, June 24, 2011

Allowance or Not to Allowance

I had decided a month ago to give my oldest an allowance of $5 a week. I want him to learn to work and earn stuff like his toys, games, clothes and such. Teach him to appreciate and care for things money is spent on so maybe he will stop tearing up his toys, games, clothes and such.

My husband decided that instead we will give all 3 children a $10 allowance a week. He was saying $20 a week for the older two and $10 for the 3 year old. The whole allowance idea has gone great so far with my oldest, but the middle child still wants to sit and do nothing. He is more worried about what he is going to spend his money on (games, games and more games) than anything. My oldest has worked hard this week to earn his allowance and has talked about wanting to buy him a new pair of shorts or if he finds a full outfit on sale since he has picked up some weight and hit a growth spurt since school got out in May.

The baby's will probably get set back and used to get him some new shoes, a movie or a toy of his choice. Maybe and hopefully my middle son will take into consideration about caring for stuff he pays for and earns as well. Again... I said Maybe. Really hoping he does.

Do any of you do the whole allowance thing with your children? Do you think it is good to teach them the value of a dollar or is it just like bribery to get them to do their chores? What is your whole outlook on the whole allowance thing and at what age do you think a child should be before earning an allowance?

4 comments:

Sophyta said...

Hi Wendy,
I give my younger child (11 year old girl) pocket money on daily basis while my 15 year old gets his on weekly basis. The elder one already good at budgeting..

Kimberly said...

I think it's a food idea as long as they are working for it!

Veronica Lee said...

Hi! Stopping by from MBC. Great blog!
Have a nice day!

Mommybug77 said...

I have 4 girls that are 12, 10, 4 & almost 4 months. We have talked about it before, but nothing has really transpired. It may be time to start making a real effort since our 12 year is starting to get expensive in her wants.