New allowance program for my children
By JvilleKid
@JvilleKid (131)
United States
February 28, 2007 8:51am CST
A few months ago I decided to start a new allowance program for my kids because I really was tired of them asking for stuff all the time. At the time they had no type of allowance and I also wanted to add a little financial responsibility in with the new system. So, I give them $1 for each year old they are, 10 years old = $10 per week. But, the catch was that I don't buy anything for them anymore. If they want something it comes out of their allowance. If it is gone they don't get anything or if it is expensive then they must save to buy it, no loans! What I was wondering is what kind of allowance programs, if any, you may have for your children or if you have any suggestions to improve my program.
3 responses
@nicolec (2671)
• United States
28 Feb 07
I don't have any kids, but what i was wondering, is there anyway they could lose their money? For example, when I was a kid I think I only got like a quarter a week. But that was back then. I kept saying the word 'brung' instead of brought. My parents finally told me that anytime I said that word they would take away one week allowance? Is there anying in place for you and your kids? LIke if they don't do their homework or their chores?
@JvilleKid (131)
• United States
28 Feb 07
I haven't actually taken away the allowance, once they earn it the get it. I have not given it to one for being totally bad one week and my youngest broke something of her older sister and I made the youngest buy her another out of her allowance. So, yes I use it as a threat, like if you do bad at your job, your are not going to have a job for long. I hope this lets them know that they are some consequences for their actions.
@nicolec (2671)
• United States
28 Feb 07
I like that about one buying something that they broke of their siblings. Fiscal responsibility is also about having enough money to pay your bills. Of course at 10 he's not paying the car insurance yet, but you know what I mean.
I think you have a good system in place.
@limosonia1 (1559)
• United States
28 Feb 07
You have a better program than I do. I have three dollars for 10 and under and 2 for my six year old the teenager gets 5. There allowance is for keeping their rooms clean. If they would like more money then they must help around the house. I pay 1 for vacuuming or dusting. Bathrooms are 5 and so on. Which works pretty good for us. They help around the house then at the end of the week it's payday. Sometimes they don't help and they get just there regular allowance. That seems to work pretty good for us. Plus it helps me out a lot.
@creematee (2810)
• United States
28 Feb 07
I'm just curious, do you keep a job chart, so you keep track of what they have accomplished during the week? I've been trying to implement a job chart for my kids, and they are really excited about it, until they have to do their chores.
@creematee (2810)
• United States
28 Feb 07
Our children (age 7,5, &2) are responible for helping recycle our pop cans/bottles. In Iowa we get 5 cents back for each can. They help take them in, then split the "profits." We do this about once a month, and they usually get $3-5 apiece. It may not sound like a lot, but they are really excited when they get it. They use their money for field trips for school, or book orders that they bring home. At Christmas time, they take their money to the "kid store" and buy presents for each other.
@JvilleKid (131)
• United States
28 Feb 07
Great idea! Here in Michigan, the deposit return is 10 cents and I hate taking bottles back. lol Maybe I can use that as a "Bonus" of somekind. Thanks for the idea.
