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Poll: Allowance
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mrswhitecastle posted:
1. At what age did/will you start giving an allowance?

2. How often do you pay -- weekly, monthly, when DC does chores?

3. Do you give DC cash, or keep track of how much DC is owed?

4. If you give DC cash, where do they keep it so it doesn't get lost?

5. Do you let DC buy whatever they want with it?

6. Since DC has an allowance, do you still buy as much for DC yourself?
Emily (6) Elizabeth (4)
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iocasta responded:
1. At what age did/will you start giving an allowance? We started when Levi turned 5.

2. How often do you pay -- weekly, monthly, when DC does chores? He gets $5 per week.

3. Do you give DC cash, or keep track of how much DC is owed? DH maintains an excel spreadsheet called Levi's Bank account that gets updated every Friday. Also, any other money he gets, goes into it, including the change that we drop into his piggie bank. The last time we cashed it out, there was over $200 in it. They look at how is grows and chart it. It is a good learning tool. Levi just tapped his account out to buy the Death Star Lego. He was completely committed to saving his money.

4. If you give DC cash, where do they keep it so it doesn't get lost? N/A

5. Do you let DC buy whatever they want with it? Yes, it is his money and he has to learn how to manage it. I think a large part of an allowance is to teach good money management.

6. Since DC has an allowance, do you still buy as much for DC yourself? Yes and no.
 
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baby1at35 responded:
MrsWhiteCastle posted: 1. At what age did/will you start giving an allowance? I did just recently start (2 quarters a day for morning chores and evening chores)

2. How often do you pay -- weekly, monthly, when DC does chores? I try to do daily and put a quarter in their cup.

3. Do you give DC cash, or keep track of how much DC is owed? Honestly I do not keep track like I should. I need a better system!

4. If you give DC cash, where do they keep it so it doesn't get lost? We keep it in their cups on the counter for now.

5. Do you let DC buy whatever they want with it? Yes but we talk about wants/needs/good ideas type of thing and saving for something special

6. Since DC has an allowance, do you still buy as much for DC yourself? Honestly I do not buy tons anymore. I buy some special things here and there but not a lot. Mainly birthdays/christmas and a few things in between. Honestly from others we have so much stuff it drives me bonkers! Emily (6) Elizabeth (4)
Me (42) 2 busy boys 6 yrs and 5 yrs
 
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seeit2 responded:
We don't really have an allowance, but we do pay DD for doing jobs around the house if she chooses to do them. So if she sees a handbag at the store that she wants and I think it's a waste of money then she can do jobs around the house and earn enough to buy it. She has picked up a few things this way - none that cost more than about 8 bucks. She keeps her money in a piggy back by her bed. We will, for example, have her feed the cat for five days - after five times she gets a dollar.
Esmerelda Supercalifragilistic (41) DD (5) DS (2) Just eat it, will ya
 
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VicsEandJ replied to seeit2's response:
I have never thought about giving an allowance yet. I guess I'll start closer to 10 or middle school- the age when I plan to let them make more of their own independent decisions about what they can get for themselves.

Right now I want them to clean up after themselves and help because its the right thing to do.
 
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j9ween3 responded:
1. DS was 6 & DD was 4.

2. paid weekly

3. cash

4. piggy bank

5. no, they have to put some in their bank account & can spend some

6. yes lol
Janine - Tyler -7, Bella -4, Giana -22 months born 8 weeks early
 
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kc_94920 responded:
1. At what age did/will you start giving an allowance? We formally start allowance when they turn 7. Before that money was/is made by doing odd jobs (not basic chores), having birthdays or losing teeth.

2. How often do you pay -- weekly, monthly, when DC does chores? We pay weekly and they each get up to $7/week. Basically they get it all on Sunday (4 dollar bills and 12 quarters) and it goes into glass jars (aka- "banks") that we keep in the kitchen. If they have a great week in terms of daily chores, behavior and attitute the money is all theirs come Saturday. I "withdraw" money (usually the quarters) for poor behavior, disrespect or not doing the simple chores that are asked of them. If they continually struggle with something or demonstrate behavior that is beyond ridiculous, I take an entire dollar.

3. Do you give DC cash, or keep track of how much DC is owed?
Yes, cash.

4. If you give DC cash, where do they keep it so it doesn't get lost?
They each have a piggy bank (and a bank account but normally allowance money is just kept at home).

5. Do you let DC buy whatever they want with it? Pretty much, it's their money and I want them to learn the value of it and how to manage it wisely.

6. Since DC has an allowance, do you still buy as much for DC yourself? Not in the way of American Girl dolls and clothes or Legos.






KC~ Mady (9) Logan (7) and Coco (almost 4)
 
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ryanandleigh responded:
1. At what age did/will you start giving an allowance? DS started when he was 5 1/2. DD started at 3 1/2 because she started asking for money when DS received his. [br>[br>2. How often do you pay -- weekly, monthly, when DC does chores? They are paid every Saturday. [br>[br>3. Do you give DC cash, or keep track of how much DC is owed? We give them cash.
[br>4. If you give DC cash, where do they keep it so it doesn't get lost? I bought each of them a wallet when they started getting allowance. Money has to stay in it unless they are spending it. After DD misplaced her wallet, I started keeping it on a shelf by the computer. [br>[br>5. Do you let DC buy whatever they want with it? They can buy age appropriate toys and treats with it. As long as they have the money, they can spend it. [br>[br>6. Since DC has an allowance, do you still buy as much for DC yourself? We pretty much never buy them toys since they have their own money to spend. Even the stuff in the dollar section they have to use their own money for. Sometimes we will still buy a candy treat at check out but that is rare.
Leigh, Jacen (6), Alexa (3)


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