should children be given a weekly allowance

[dancerboy]

I do not believe in giving children weekly allowance. I never gave them an allowance, but whenever they had a track meet, or a karate tournament to attend, even the coach would take them. However, i always rewarded them for getting good grades, and anthing i else i deemed rewardable. Ironically, my grandchildren get allowances from me. My eldest granddaughter asked me to give her $5 a week, so that's what i have been giving her, and i give the little soon- to-be 60 year old $3. But they excel in all that they do, so i think they deserve it. However, i let them know that once they do not perform as expected there will be no more allowance. As a matter of fact i plan to double their allowance, begining next month.

DANCERBOY

[guyguy]

I have never given any of my children a weekly allowance. Whenever they needed money, I just sent them to get what they needed from my wallet. Not one has ever taken more than needed and everyone has returned the change without being asked.

[serenity]

I have never given any of my children a weekly allowance. Whenever they needed money, I just sent them to get what they needed from my wallet. Not one has ever taken more than needed and everyone has returned the change without being asked.

Dais how I was raised. Never got money for having money sake.
We tried to bargain to be paid for chores but my parents didnt buy into that idea.
We got money to buy lunch and any extra was yours to keep.

[Mivo]

my children never got any allowance and did exceptionally well academically.
I don't think kids should be rewarded for making good grades, my take! dais putting pressure on them

[vaio]

i got an allowance...and we saved towards things that we wanted... it taught me how to save for things i wanted.....i will start giving my son an allowance when he understands what money is and what he can do with it.....

[Solachica]

I got $$$ when my parents had to give.
Also didn't really need it to becos I got lunch etc and didn't travel to or from sch. The lil $ here and there was saved when I got it most times.

[BW]

Monthly (or bimonthly) allowances work better. Weekly/daily allowances focuses too much on micromanagement and short-term thinking, imo. Children need to learn not only how to save money, but how to use money. You don't want them becoming "penny-wise but pound-foolish," do you?

[Mivo]

my kids learn how to write out all our bills and balance the check book at an early age and continue to do it today which is better since they can do it online. They even monitor how much I spend

[snowbird]

my children never got any allowance and did exceptionally well academically.
I don't think kids should be rewarded for making good grades, my take! dais putting pressure on them

Never rewarded them for good grades; it was always understood that their best effort was expected; and it was always given; most of the time it resulted in good grades, however, if they fell short in any area, they were never chastised as we knew they did their best.

As to weekly allowance? never gave those, instead we provided within reason; when their needs exceeded what we were prepared to provide (i.e. name brand vs store brand), they went out and got part time jobs. Trust me, once they started 'earning', they were alot more careful with how they spent it :lol:

[sapodila]

The only allowance I got was from my grand father...... all the small change that fell on the floor of the car.

I don't give allowances. WE pay the mortgage, buy the clothes and shoes and put the food on the table, pay the bills, etc., etc., etc.. Chores in and around the house is expected, since it's every one's responsibility to contribute, in whatever small way they can! Good grades is also expected and comes with encouragement...........not $$$$$$$$. We have learnt to save half off our earnings and that's the same lesson we are passing down to the kids.

[Huma]

I plan to give my child an allowance, along with lessons in saving, investing and good money management.

The caveat is that I won't be buying stuff for them anytime they want something. I'll expect them to be saving for certain things.

edit: not need...want.

[sapodila]

I plan to give my child an allowance, along with lessons in saving, investing and good money management.

The caveat is that I won't be buying stuff for them anytime they need something.
I'll expect them to be saving for certain things.

My son has a jar that's labeled " PSP...Fund!" He's saving to buy the game HE wants and don't need. I would only encourage him to keep saving.........who knows he may decide to get something else then or put the money in his savings account so he could 'pass' his sister. :)

[Sirius]

Allowance? I say just give what they need. You just have to raise your children not to expect to get whatever they want whenever they want.

Every so often my father would ask me, "Do you need money?"
If I needed, I would say yes. If I didn't, I would say no.
I never abused the privilege; just how I was raised.

Every so often, I would get a little something to put in the bank. But this wasn't really an allowance. It was the building of a habit of saving, and is something I have carried with me into adulthood. Enjoy life, but live within your means and always make sure you have something to put away in savings or investments.

You never know when a rainy day may come. Living paycheck to paycheck is a very bad idea. Giving children x amount of dollars a week that they can run off with and splurge on whatever they please is an easy way to ensure that they do just that in adulthood.

[dancerboy]

I have never given any of my children a weekly allowance. Whenever they needed money, I just sent them to get what they needed from my wallet. Not one has ever taken more than needed and everyone has returned the change without being asked. How could they have taken more than needed, when they needed all that you had ? That's why yuh live in a cardbox

DANCERBOY

[dancerboy]

my children never got any allowance and did exceptionally well academically.
I don't think kids should be rewarded for making good grades, my take! dais putting pressure on them There is a big difference between an reward and an incentive. REWARDS are after the fact, INCENTIVES are before the fact. I give rewards, which are earned. It teaches the child at an eraly age that good deeds, good work, good performances, etc. are rewarded, something every child should strive for. (By the way you mustn't end a sentence with a preposition, remember that teaching).

DANCERBOY

[Huma]

You never know when a rainy day may come. Living paycheck to paycheck is a very bad idea. Giving children x amount of dollars a week that they can run off with and splurge on whatever they please is an easy way to ensure that they do just that in adulthood.

I'll hadda disagree with this. A regular allowance gives a parent an opportunity to teach many lessons about maturity, money management and even what you as a parent go through on a monthly basis. Depending on the amount of money I give, I won't bother myself with unnecessary stuff like clothes or entertainment. And I can always lower the allowance depending on the child's conduct. Leave them with just enough to go to school etc.

I think the opposite is more likely. Keep a child away from a regular money management system when they're young, and they'll be never-see-come-see when they finally get a real salary.

It's all about the lessons you complement the allowance with. I find yall only talkin about children as if they're fools.

[Mivo]

There is a big difference between an reward and an incentive. REWARDS are after the fact, INCENTIVES are before the fact. I give rewards, which are earned. It teaches the child at an eraly age that good deeds, good work, good performances, etc. are rewarded, something every child should strive for. (By the way you mustn't end a sentence with a preposition, remember that teaching).DANCERBOY

Dancer stop straying from the topic, btw I eh need to remember nothing you ent my guru
steupse

[Mivo]

double post

[Sirius]

You never know when a rainy day may come. Living paycheck to paycheck is a very bad idea. Giving children x amount of dollars a week that they can run off with and splurge on whatever they please is an easy way to ensure that they do just that in adulthood.

I'll hadda disagree with this. A regular allowance gives a parent an opportunity to teach many lessons about maturity, money management and even what you as a parent go through on a monthly basis. Depending on the amount of money I give, I won't bother myself with unnecessary stuff like clothes or entertainment. And I can always lower the allowance depending on the child's conduct. Leave them with just enough to go to school etc.

I think the opposite is more likely. Keep a child away from a regular money management system when they're young, and they'll be never-see-come-see when they finally get a real salary.

It's all about the lessons you complement the allowance with. I find yall only talkin about children as if they're fools.

This I can agree with, for the lessons are what really count whatever method is used. That said though, I have seen too many parents (not all mind you) just give an allowance every week and let the children go their way without any accompanying lessons. What happens then is the children are constantly going off and buying games/candy, etc. and then it happens again the next week, and again, and again because they just get more anyway. None is saved, and nothing is taught about spending wisely.

The kids are not fools, but they will model their behavior after what they are taught or not taught. Later on in life, these are the kids who more concerned with tricking out a car or getting hold of every game console and game in existence instead of how they will manage their finances when they move out of mommy and daddy house.

Different for every family though I suppose.

[KFCSpicy]

i got an allowance...and we saved towards things that we wanted... it taught me how to save for things i wanted.....i will start giving my son an allowance when he understands what money is and what he can do with it.....

Same here. We got money every Sunday night for the week. Mommie still got up early to cook so we had food for lunch and juice if we wanted and this is in Secondary School eh! But when u in school some kids flaunting $20 and $30 for the day alone so I used to always try and scrimp mine.

But when I had to go to the parlour for my dad I used to knick a 50 cents for boourbon or chewing gum! He used to laugh it off but as we got older he used to say bring meh change back dread. :mrgreen: Then let us keep it!

I still doh save as well as I should but I am not in debt and I prefer to purchase what I own. So how that has impacted on me I really cyah say as my big sisters all are way diff with money. More sensible.

[serenity]

I dont think children need allowances to learn how to budget and value a dollar.
In fact I dont even think children should have that responsibility of thinking carefully about how they spend money. Let them buy snacks everyday if they want to, how much money would they really get anyway?
I learnt about money from watching how my parents spent it and the explanations I got as to why I couldnt always get what I want. I watched them make sacrifices too sometimes so it wasnt too hard to follow suit and appreciate how to prioritise.
I also had to give away plenty money when I started to work. I was mandated to give donations to temples, grandparents, parents and even stupid siblings. So my parents also made sure from early on I learnt how to give away money. :lol:

[Scorpio]

I think giving children an allowance could teach them to use money responsibly from an early age.

[kemist]

I started gettin an allowance when i began secondary school, plus lunch money. Whatever remained from lunch money was mine to keep. 8-)
Due to certain circumstances, at around form 3, i had to get a part time job. Since then, the only times i asked my mom for money was when i had to take time off from work during exams in forms 5, 6 and in uwi.

I think those two years of getting an allowance taught me a few important things on managing my budget before i started working as a teen; like the difference between wants and needs.
So i would agree to giving children a fixed allowance for the purpose of teachin money management.
But when they spend it out and come asking for more before time, you must resist those puppy dog eyes :)

[trinipixie]

I started gettin an allowance when i began secondary school, plus lunch money. Whatever remained from lunch money was mine to keep. 8-)
Due to certain circumstances, at around form 3, i had to get a part time job. Since then, the only times i asked my mom for money was when i had to take time off from work during exams in forms 5, 6 and in uwi.

I think those two years of getting an allowance taught me a few important things on managing my budget before i started working as a teen; like the difference between wants and needs.
So i would agree to giving children a fixed allowance for the purpose of teachin money management.
But when they spend it out and come asking for more before time, you must resist those puppy dog eyes :)

I agree with you kemist. A kid has to learn how to manage money. You also don't want them getting "issues" about having it and feel so desperate to have it, they will resort to anything.

If a kid is doing his chores around the home, helping out etc and needs money for school, personal stuff etc, give it to him. Make sure he understand how hard you worked for it and is grateful and responsible with it. When he wants impulse purchases tell him, "Save your allowance and buy it yourself!"

I used to save my left over change. I would get money for lunch but I started making my own sandwiches and saving the lunch money. I was very industrious :mrgreen: