How old should kids be to get an allowance?

Just curious! I have a 5 year old, but I think she may still be too young - but maybe she isn't.

How much do you pay your kids??

Any suggestions for an appropriate "reward" for a 5 year old?

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ratchetlee

Asked by ratchetlee at 6:02 PM on Dec. 30, 2008 in School-Age Kids (5-8)

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Answers (14)
  • We do allowances with our 9, 7, and 4 year old. It helps with the family budge because they are expected to use their own money for their wants. Each child gets a base allowance and then they can earn a certain extra amount by doing EXTRA chores (not their household responsibilities). Each child has a jar on top of the refrigerator where we put their allowance. If they do not fulfill their household responsiblities, we do not fight with them over it. DH or I will simply do it for them and then charge them. We're pretty pricey, too - $1.00 to make a bed or pick up a towel, etc. We rarely have to make money away. Or, if they break something that belongs to a sibling or something, we take from one jar and put into the other. It works really well for our family and the kids are developing a great sense of the value of money. The 9 year old has over $80 saved up!
    littlevic

    Answer by littlevic at 7:58 PM on Dec. 30, 2008

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  • My kids aren't paid for helping out around the house (at least not yet). Im having a difficult time deciding on if we should start that habit or not.

    I have a 5 year old boy and I think $2 a week would be sufficient if we were to pay him.
    ReneeK3

    Answer by ReneeK3 at 6:08 PM on Dec. 30, 2008

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  • Rach, Josef does not get an allowance, nor will he. We grew up with allowances, and I remeber getting one starting about Josef's and Bree's age. Now back then we were getting around $1/wk, but that was 25yrs ago. Josef has no idea how money works, I mean a $20 bill and a $1 bill are just peices of paper to him-he does not understand that they are worth different amounts yet. If Josef sees something that he wants, well he can save his b-day, valentine, easter, christmas, etc money that is sent to him by his overly gracious grandparents. You know very well that my kid has plenty, I don't think he needs anymore, lol.
    Josef1129

    Answer by Josef1129 at 6:08 PM on Dec. 30, 2008

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  • if she doesnt have a piggy bank yet, then go and buy one wth her. let her pick it out. Then you should explain her for what things she could save money up. Like a toy she wants really bad ect.

    And i think $1 / week is enough for a 5yr old. because she wont be able to go to a store by herself anyway ;) You should use quarters though, makes it look more and fills up the piggy bank faster ;)
    m.robertson811

    Answer by m.robertson811 at 6:08 PM on Dec. 30, 2008

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  • Oh, and I don't agree with paying children for doing chores. You make the mess, you clean it-no questions asked. A child is a child, not a person to do our "dirty work", I felt like my parents would sit back and watch me and my sister do everything, I will not do this to Josef. Part of everyday life is cleaning your plate off the table, picking up your playroom and making your bed. This is not to be rewarded IMHO. No one is going to reward you when you are an adult!
    Josef1129

    Answer by Josef1129 at 6:10 PM on Dec. 30, 2008

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  • At that age I paid my daughter in quarters for any extra chores she did (more quarters for bigger chores). She loved having a few coins for the junk machines at the store. She also started learning about saving for bigger purchases. She would ask me how many quarters she needed to buy something and we would figure it out together. She'd count up her quarters and tell me how many more she still needed, and she'd ask if there were any chores she could do to earn what she needed. Quarters worked pretty well for us, but it might be different if your child hangs out with kids who have more spending money. At 5 I definitely wouldn't give them too much
    TweenAndTwinMom

    Answer by TweenAndTwinMom at 6:12 PM on Dec. 30, 2008

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  • I am not really considering doing it as a reward for doing things she should be doing anyway, but more like when she does EXTRA stuff. And maybe if she doesn't do the things she "supposed" to do - I can take money away?????

    I don't know - just brainstorming for now. :-)
    ratchetlee

    Answer by ratchetlee at 6:15 PM on Dec. 30, 2008

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  • When my children turn 10 they will get they're allowance because they don't need it, we get everything for them that they need/want etc.
    Mummytomore

    Answer by Mummytomore at 6:22 PM on Dec. 30, 2008

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  • I only paid mine for extra chores, and I think that is appropriate. At one point I did try taking away money for regular chores that didn't get done, but it wasn't very effective for us. Whatever you decide, I think allowing your child to earn a little money of her own is a great learning opportunity. Some people like to enforce how much money is saved, how much is tithed, and how much is for spending; this can be a good way to start, but they need to have some control to be able to learn from their mistakes. My daughter had to blow all her money on junk a few times before she figured out why it was better to save than to splurge.
    TweenAndTwinMom

    Answer by TweenAndTwinMom at 6:31 PM on Dec. 30, 2008

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  • We're going to start some sort of system with our oldest two after the new year. They're 6 and 3. I'm not sure how to "pay" them either though. So, I guess I'm no help. But, I think it's a good idea. :-)
    murelzgirl

    Answer by murelzgirl at 6:41 PM on Dec. 30, 2008

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