School-Aged Children

Allowance?

Do you do it?

Do your kids have to do anything to earn it?

If you do give an allowance, when did you start?

How much do you give?

What rules do you have about it? (e.g. half of it goes in the bank, the lose it if they don't behave or don't finish homework, etc.).

 

DS1 age 7, DD age 5 and DS2 born 4/3/12

Re: Allowance?

  • Do you do it? Yes

    Do your kids have to do anything to earn it? No

    If you do give an allowance, when did you start? kindergarten for the older two but end of preschool for the youngest

    How much do you give? 10 y/o gets $5 a week, 7 y/o gets $1 a week, 4 y/o gets $.50.

    What rules do you have about it? (e.g. half of it goes in the bank, the lose it if they don't behave or don't finish homework, etc.).

    We use it as a money management lesson.  DD's school has all sorts of special days they need money for (bagel day, popcorn day, school store, etc).  To keep her from constantly asking for money to cover these events we give her enough allowance to participate.  She's learned to prioritize the events and budget out her money.  We reward savings by basing her allowance on how much savings she had (at $10 savings she got a dollar, $2 for $20 in savings, etc all the way up to $50 anything over that she still only gets $5). 

    .
  • DDis 6 and we give her an allowence. She must earn it though. Depending on her start chart and how many stars she gets determines the amount. If she doesn't do very well during the week she'll get 2 bucks, but if she gets more than 30 stars she gets $6 every Friday.
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