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Do your kids get an allowance?

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 If so, is it tied to chores? If not, how do you teach them to manage money?

         

by on Aug. 9, 2014 at 8:11 PM
Replies (21-30):
debra_benge
by on Aug. 12, 2014 at 12:50 AM

If they get their chores done, yes, they get an allowance, and we're teaching them budgeting.  They occasionally get extra money for doing work around the neighborhood.  I don't loan them money when they run out, either.

SweetLuci
by Bronze Member on Aug. 13, 2014 at 10:41 PM

 Sounds like a good plan.

Quoting debra_benge:

If they get their chores done, yes, they get an allowance, and we're teaching them budgeting.  They occasionally get extra money for doing work around the neighborhood.  I don't loan them money when they run out, either.

 

PIC121314
by New Member on Aug. 21, 2014 at 5:18 PM


Quoting Foxilady: Allowance yes- $1 per year of life. So 17 year old gets $17per week. 5yr old gets $5 per week etc. All kids have savings account and teen has great credit already. We spend a lot of time teaching budgeting, savings, goals, etc

This is awesome!  How old when you started? thanks

waytomanykids10
by Member on Aug. 21, 2014 at 5:42 PM

 Yes, they get food, clothes, toys, a bed, and a roof over their head. I do not believe in paying my kids money to help around their home.

Foxilady
by on Aug. 23, 2014 at 9:29 AM
1 and up for $
As for the teens credit-she was 15 when we added her on our credit card.
Is that what you wanted to know??


Quoting PIC121314:

Quoting Foxilady: Allowance yes- $1 per year of life.
So 17 year old gets $17per week.
5yr old gets $5 per week etc.

All kids have savings account and teen has great credit already.
We spend a lot of time teaching budgeting, savings, goals, etc

This is awesome!  How old when you started? thanks

StreetsAhead
by Member on Aug. 23, 2014 at 9:31 AM
Yes he gets an allowance each month.
He is expected to help around the house which is unconnected to the allowance.
Certain jobs he can do for more - like washing the cars or he learnt to tile
ablackdolphin
by Bronze Member on Aug. 23, 2014 at 9:32 AM
not yet
SarahSuzyQ
by Bronze Member on Aug. 23, 2014 at 7:40 PM
Yes, my son receives a weekly allowance for doing his chores. He is 6.
sunshinepraying
by Member on Sep. 1, 2014 at 1:08 PM
Not yet, but they can earn money if they do extra things. For example, when I go to work at my parents' house to clean and organize and they are with me, they can earn money by helping me do the work over there.
army_wifey_06
by Member on Sep. 1, 2014 at 3:40 PM
Not yet. My oldest just turned 5 and my youngest is 2. We could probably start one with our oldest soon? He does do chores,
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