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What are your feelings on an "allowance" and at what age do you start?

  1. FreezeFrame34 profile image75
    FreezeFrame34posted 6 years ago

    What are your feelings on an "allowance" and at what age do you start?

  2. duffsmom profile image59
    duffsmomposted 6 years ago

    I think it is nice for a child to have a little money of their own.  I would start at about 8 or 9 with just a dollar a week.  Help them find a special place to keep it, and teach them how to save for something they want.

    Also let them earn extra for special jobs they normally don't do like hosing down the driveway for something like that so they can get the connection of earning money for things they really want.

  3. Rev. Akins profile image77
    Rev. Akinsposted 6 years ago

    We offer 1 dollar for every year the child is a week. So my 6 year old EARNS about 24 a month. He has to do certain chores to get the money each month, and if the chores are not done, then he doesn't get any money. Also, we take two percentages off the top, he pays 10% to the church and 10% to savings. Every month he knows that some money needs to go to God and some needs to go to the bank as just in case money. Then when he wants to buy a toy or something, he can use his money. Also, if he doesn't bring his money when we go shopping, he can't get anything.

  4. profile image0
    Starmom41posted 5 years ago

    I think it's a good idea if the parents can afford it (& I usually couldn't). 

    if a parent does give an allowance, though, I think it should be "no strings attached"-meaning it shouldn't be withdrawn or changed due to behavior, chores, etc. 

    and I believe kids should get in the habit of putting a specific amount of their allowances or other money in the bank- like "spend half, save half."

 
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