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The Family Piggy Bank The Family Piggy Bank

I have to brag!

Posted by on Mar. 13, 2013 at 11:19 PM
  • 7 Replies
1 mom liked this

My five-year old started getting commission this year. She has to put at least 10% in her share bank, and at least half in her save bank. In just 10 weeks she earned enough (by working extra, and taking a cut in her spending money) that today when we went in to see her grandparents, she took five dollars with her to give to the church's food bank. Her brothers (being older) get more commission and yet the youngest of the two is only a little over halfway to the five dollar mark. (They all started their share jars at the same time.)

by on Mar. 13, 2013 at 11:19 PM
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Replies (1-7):
oddfox
by Member on Mar. 14, 2013 at 8:47 AM

I've never heard the term "commission" before in relation to a child. Is it a fee she recieves from doing chores or a non work related allowance or does she sell something and get a cut of the profits?

boshs1andonly
by Member on Mar. 14, 2013 at 8:48 AM
That's what I was wondering.but good for her for saving money then donating it, sounds like you're doing something right!

Quoting oddfox:

I've never heard the term "commission" before in relation to a child. Is it a fee she recieves from doing chores or a non work related allowance or does she sell something and get a cut of the profits?

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Melissa823
by Member on Mar. 14, 2013 at 8:51 AM
1 mom liked this

Dave Ramsey teaches to give commission to children. They get paid for what they do around the house. Some things you do just because you're part of the family, and other things you get paid for. Then, you split your money among 3 envelopes or piggy banks, GIVE, SAVE, SPEND.

boshs1andonly
by Member on Mar. 14, 2013 at 8:52 AM
Oh in my house that was an allowance lol that's why I got confused. We got lunch money/spending money and did chores.

Quoting Melissa823:

Dave Ramsey teaches to give commission to children. They get paid for what they do around the house. Some things you do just because you're part of the family, and other things you get paid for. Then, you split your money among 3 envelopes or piggy banks, GIVE, SAVE, SPEND.

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AllofFive19
by Bronze Member on Mar. 14, 2013 at 11:21 AM

Some kids feel an allowance is something you get just because you're a part of the family. Commission teaches them that they must work for the money. I use both, because I'm not used to commission yet.

Melissa823
by Member on Mar. 14, 2013 at 3:39 PM

I think allowance has a connoation of being something you get no matter what...Comission based is like only getting  paid for the specific chores that are completed. I don't know. 6 and 1 half dozen probably... ;)


Quoting boshs1andonly:

Oh in my house that was an allowance lol that's why I got confused. We got lunch money/spending money and did chores.

Quoting Melissa823:

Dave Ramsey teaches to give commission to children. They get paid for what they do around the house. Some things you do just because you're part of the family, and other things you get paid for. Then, you split your money among 3 envelopes or piggy banks, GIVE, SAVE, SPEND.



boshs1andonly
by Member on Mar. 14, 2013 at 5:13 PM
To be honest I'm not sure my parents ever made the connection. I always got lunch money then when I got older I got more money but also had chores. Both were a given (not doing the chores wasn't an option, and I always got lunch money) so it wasn't really an issue of getting the money if the chores weren't done

Quoting Melissa823:

I think allowance has a connoation of being something you get no matter what...Comission based is like only getting  paid for the specific chores that are completed. I don't know. 6 and 1 half dozen probably... ;)



Quoting boshs1andonly:

Oh in my house that was an allowance lol that's why I got confused. We got lunch money/spending money and did chores.



Quoting Melissa823:

Dave Ramsey teaches to give commission to children. They get paid for what they do around the house. Some things you do just because you're part of the family, and other things you get paid for. Then, you split your money among 3 envelopes or piggy banks, GIVE, SAVE, SPEND.




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