What is a fair amount to pay for allowance?

[kashi]

Re: What is a fair amount to pay for allowance?

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]

Re: What is a fair amount to pay for allowance?

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]

Re: What is a fair amount to pay for allowance?

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