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What's your opinion on giving kids an allowance?

Posted by on Aug. 17, 2011 at 7:04 PM
  • 16 Replies

I've seen posts in other groups that many people don't give allowances because the parents provide everything they need, they should be helping because they're part of the family, etc.  I think an allowance is a great way for kids to learn about money.  They learn how to spend it/save it, save up for things they want, etc.  What are your thoughts?

by on Aug. 17, 2011 at 7:04 PM
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Replies (1-10):
CoolMommyofboys
by Member on Aug. 17, 2011 at 8:21 PM

I never got an allowance growing up but I learned about money just fine

we don't give our boys any but I also don't make them help out around here much

they do get money though for their birthday and grandparents are always giving them something here and there...they like to save up their money and go in together and get a Wii game

Charli627
by on Aug. 17, 2011 at 9:43 PM
My mom give me an allowance for about a mth based on grades. But I was always an A student. So I guess it got a little expensive for her. Our kids don't have allowance pretty much cause we are broke. But even if we had the money, we would probably just set them up saving accounts.
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owensmom34
by Bronze Member on Aug. 17, 2011 at 9:59 PM

We don't believe in allowances.  We tried with the kids and it didn't seem to work so now they are just expected to help out. 

ReesesPieces
by on Aug. 17, 2011 at 10:09 PM

Our 5 year old earns commission - not allowance.  He has to work and earn his money.  We have various chores that he just has to do as part of the family, then we have additional chores that earn him a commission.  It is teaching him that the amount of money you make depends on how well and how hard you work.  We also teach him that he needs to tithe 10% of that money, the other 90% is split between savings and spending.  It's not like he earns a lot of money yet, but he is already learning about work and money.

Charizma77
by Carissa on Aug. 17, 2011 at 10:47 PM

I think it can work, we tried it and it didn't. We might try again in a year or so.

sheri305
by Bronze Member on Aug. 17, 2011 at 11:12 PM

We give our kids allowance,they are all older,so they have to save it for some of their "Wants".Which is teaching them money management and the value of things.I don't think its a right or wrong thing,but just a personal choice as a parent.

PEEK05
by on Aug. 17, 2011 at 11:12 PM

We don't do allowances.

mama2alex04
by on Aug. 18, 2011 at 12:22 AM
Haven't done an allowance yet for DS7. Thinking about it though.
lalasmama2007
by on Aug. 18, 2011 at 1:30 AM

My DD is only 4, so she is still too young for an allowance.  I never received one as a child.

mumsy2three
by on Aug. 18, 2011 at 7:56 AM

We don't do allowances.

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