What is a fair amount to pay for allowance?

[robby]

I'd like to hear some input on what others think is a fair amount to give for allowance for a 12 year old? Do you think that allowance should be based on chores or something that is given as a set amount no matter what? Any ideas on how to make the allowance also be a way to teach him how to handle money?

[crosses]

I think allowances really vary from family to family and by where you live. My children all had to do chores, but they were never paid a certain amount depending on what chores they did. They would have had to do them regardless of allowance.

[Luv2shop]

Kids shouldn't get paid to do chores. Most kids these days are very spoiled anyway. When they need money, I give it to them.

[robex]

Our 11, 9, and 5 year olds get tickets for chores over and beyond tidying their rooms, cleaning up their toys, etc. They can then cash in their tickets whenever they wish. Each ticket is worth 25 cents. The older two decided this wasn't working for them anymore and now share a paper route from which they each get about 50 dollars a month. They've become quite frugal with their money...amazing how things change when one actually has to WORK for something!

[aniceguy_2]

Originally Posted by Luv2shop

Kids shouldn't get paid to do chores. Most kids these days are very spoiled anyway. When they need money, I give it to them.

I am not sure I agree with that.While some chores should be just required, there is nothing wrong with teaching children responsiblity and about earning money.Then the lesson could be that if you want something you have to work for it.Just giving them the money is they very reason why kids are spoiled.When it is just handed to them they learn nothing about working or responsibility.

when I was growing up I had several chores that I did and was paid for some of them.Things like cleaning your room and helping with the kitchen were considered non pay chores.But cleaning the bathroom, living room, and racking the leaves/shoveling the snow were chores I did for a modest allowance.

[cercis]

My mom used to pay us to clean her closet (which meant hanging up all the clothes on her ironing board and exercise bike).

We got $5/week for lunch. We could chose to take something from home (I'm still not sure how that was supposed to work since she didn't provide baggies or containers and this was the time before plastic bags from grocery stores) or buy the school lunch. This worked well for my brothers because then the lunch was $3.50/week. It didn't work so well for me because my lunch was $5/week. We did have open campus, so I learned to bum rides with friends and go to their house to have microwave popcorn or whatever their mom would make for us. My junior and senior years I had ag right after lunch and the ag teacher had a microwave, he would let me pop my popcorn there and eat during class (we were all allowed to eat and drink and he even sold beef jerky and soda for FFA). That was good since we had 25 minutes for lunch and couldn't get far in that amount of time.

My mom would also pay for me to come do filing at her office. She worked in an insurance office and always had filing. Her boss was also a CPA, so I'd get paid to put the checks in number order. I think I'd get about $3 for doing that.

I had chores I was expected to do and if I didn't do them I was grounded. I still got my $5/week for lunch, but couldnt' do anything else.

[cicy33]

We have four small ones at home and in an effort to promote harmony we pay each child $2 per week allowance. They only get this if they behave, keep their rooms clean, and help out around the house when asked without whining! Children need some money to understand how to use it. For ex. the other day my youngest had a dollar left after going to a restaurant with us and we gave each of the kids some money to play the video game. He saved his. he wanted a video. Now, as we all know videos cost more than $1 that are any good. We went to walmart and found the $1 videos and he discovered that they sucked! But we did not give in and buy a more expensive video. He bought disgusting ugly teeth. But that is okay it was his money to use. They were .88 and with tax pretty much a $1. So he learned that mom and dad are not going to let him have a more expensive one just becuase. He saves his allowance usually for several weeks so that he can buy a video he likes. An allowance teaches a child how to manage money. I feel that a modest amount based on age and activities is a good idea. I mean if your child does not clean their room or whatever and then later in the week you still gave them $5 to go to the movies with their friends you still gave them money even if it wasn't an allowance.

[Snoopy2645]

I give my oldest almost 11 $20 every 2 weeks so its $10 a week I give it to her every 2 weeks cause thats when I get paid. I make her take out the trash & help with laundry clean her room & sometimes the basement which is kinda a family room/toy room & she helps with her sisters who are 5 & 2.

She uses her money to go skating & one time she did buy a savings bond. I am trying to use it to help her learn to budget she knows if she spends $20 on that day it will be 2 weeks she will be broke so I think its teaching her life skills ya know I also like the ticket idea above poster mentioned. We just started this a few months back but it working well I think 11- 12 is a good age to start learning about money because soon they will be working heck they could be babysitting very soon ya know so I think its important to learn about money before they are making alot & not knowing what to do with I know I was making $150 a week at 13 babysitting.

[jmjj215]

I'm all about having standard required chores for the kids for which they receive no compensation (they eat, sleep comfortably, are clothed, etc. already). However, if they want to take on some bigger projects around the house to earn some money, I see no problem paying them for their work. It teaches the value of a dollar earned, and hard work.

[Luv2shop]

Originally Posted by jmjj215

I'm all about having standard required chores for the kids for which they receive no compensation (they eat, sleep comfortably, are clothed, etc. already). However, if they want to take on some bigger projects around the house to earn some money, I see no problem paying them for their work. It teaches the value of a dollar earned, and hard work.

I agree

[PrincessPerky]

I think the amount given should have something to do with the amount mom and dad get, (in our house that is zero, hence the zero allowence .)

But then I also think if I want money I have to go work at something (no one pays me to do laundry) so if my kids want money they will have to do more than their 'share' of the work. I would rather help them make cookies to sell or something than just give them loot.

[Snoopy2645]

Well I could just hand my dd money to go skating or buy what she wants but I really believe doing an allowance is teaching her how to handle her own money KWIM & she does help watch her sisters alot & help alot with cleaning & stuff

[debtfreeme]

for my nieces and nephews: they were given a set amount ( i think 5 dollars) and to earn more they had to complete ALL their chores that week and extra pieces too. My sister figured everyone should have a little bit of fun money to have. However, there were restrictions and from early on they were taught the power of inversting and interet. My sister was the "bank" that paid interest and bonuses for good stuff done.

[Jason]

I feel allowance should be given to kids to help them learn about money. The amount depends on their age and responsibility. If they do not complete their assigned duties, they do not receive allowance. My 4-yr-old usually gets to pick out a couple toys from the dollar store, which is like a million dollars to her. My son usually receives $5 a week for taking out the trash, cleaning his room, putting his clothes away ect. Giving my kids allowance allows for a great deal of teaching oppotunities about money and saving.

[PRICEPLUS]

10 dollars a week with chores attatched to that. I make ny DD pay for certain purchases with her own money. It is amazing to watch the care and concern she takes when she is spending "her" money!

[kashi]

My sister and I never received allowance and were expected to do anything around the house that we were asked to do. If that meant help paint the house, it meant help paint the house (and NOW!!). I was always jealous of friends with allowances, though! My mom would give me money if I was going somewhere, but that wasn't often allowed, either (until I started dating). Needless to say, I seriously rebelled once I went to college and got a job!

[Bluezy]

Originally Posted by PRICEPLUS

It is amazing to watch the care and concern she takes when she is spending "her" money!

I agree!!!!!! For some children this is the only way that they learn the value of money. I would rather foster honest independance in my CJ, giving him an allowance learning to budget than have him obtain money for his desires using less than honourable means.

Although he will be two (2) years of age in January, I will continue to place a small amount in his piggy so that when he is old enough, he will have a nest egg for learning purposes.

[FrugalTexan75]

My brother and I were given an allowance. I don't remember exactly how much we each got at different ages. I do remember that by the time I was in my early teens I was getting $20/month but I had to pay for any books/toys etc I wanted. I was never really into brand name clothes, so I was happy with whatever my mom bought me.

When I was in high school I went to a boarding academy where I worked 10 hours a week my Freshman - Junior years (because I didn't turn 16 till my Junior year.) My senior year I worked between 20 - 30 hours a week and ended up paying all my tuition/boarding for the year, plus had a credit after graduation. My parent's still gave me an allowance of sorts when I was in high school - but it was more whenever I needed money for something they'd send me some.

In college I worked 20 hrs a week plus took on any odd jobs I could find. The 20 hrs a week went straight towards tuition/boarding, the odd jobs were my spending money - freshman - Junior year. My senior year I worked 30 hrs a week the first semester (became an RA) then the second semester I did my student teaching (and got paid for it, while living at home!)

Anyway, I think that it is important for children to have money to call their own, just by virtue of being a family member. But, they also should have jobs that they do in the household without asking for compensation, just because they are a part of the family.

I also think that as children get older and they want more expensive things that they don't neccesarialy *need* that they should get a monthly budget - whatever you might have spent on them anyway, then they have to budget their own money - junkfood, books, video games, going out with friends, clothes (beyond a certain limit), etc,, they would be responsible for. If they want more, then its up to them to figure out ways to make more.

Two years ago at a our teacher's convention we had a guest speaker who spoke on raising children from baby to teenager. He was awesome. One of the things he mentioned was that the way he ended the money battles with his teenage son was by giving him a budget and a checkbook -he was responsible for everything he wanted. If he wanted to go out to the movies with a group of friends, he wouldn't say "hey dad, can I have $20?" He would have to look at his budget and see if he could afford to go out. I can't remember the name of the guy right now, but he wrote a number of books -- one of them is called "Because I Said So."

Someday whenever I have kids of my own, I'm going to be looking this guy up and getting some of his books.

Laura