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Thread: Allowance rates

  1. #1
    Join Date
    Oct 2010
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    5

    Default Allowance rates

    What's a decent allowance for kids these days? Heck, at what age should kids even start getting allowance. The school's all have "school stores" and "snack shoppes" --I can't keep up.

    How much do you give your kids these days and what are the ages?

  2. #2
    Join Date
    Aug 2007
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    6,481

    Default Re: Allowance rates

    Quote Originally Posted by Quickie Questions View Post
    What's a decent allowance for kids these days? Heck, at what age should kids even start getting allowance. The school's all have "school stores" and "snack shoppes" --I can't keep up.

    How much do you give your kids these days and what are the ages?
    I don't believe in giving an allowance just because they sit on the couch playing video games. In the real world, you don't get paid unless you have a job and do your work. Why should you treat your kids any different? What you pay them would depend on their age and responsibilities. If you figure minimum wage is around $8 an hour, how many hours of chores/responsibilities do they do per week? That would give you a ballpark. I'm not suggesting giving them $8 an hour for their time, just saying that as a reference point.
    I suffer from CDO ... Its like OCD, but in alphabetical order, LIKE IT SHOULD BE!!!

  3. #3
    Join Date
    Jun 2007
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    Fayette County, Ohio
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    Default Re: Allowance rates

    My kids have been out of the house a long time, but I never did believe in allowances. I paid wages for chores that they performed such as mowing the lawn, or carrying out the garbage. That way they learned to associate money with work and how much work something cost.
    Jack
    Be sure you live your life, because you are a long time dead.-Scottish Proverb

  4. #4
    Join Date
    Aug 2007
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    6,481

    Default Re: Allowance rates

    Quote Originally Posted by JLMCDANIEL View Post
    My kids have been out of the house a long time, but I never did believe in allowances. I paid wages for chores that they performed such as mowing the lawn, or carrying out the garbage. That way they learned to associate money with work and how much work something cost.
    Jack
    You must have been related to my parents!

    It's amazing how quickly you learn the value of money when you have to work for it. Then the cold hard reality of The Man hits you square in the face when you step into the workforce for the first time and start having taxes and such deducted.
    I suffer from CDO ... Its like OCD, but in alphabetical order, LIKE IT SHOULD BE!!!

  5. #5
    Join Date
    Dec 2010
    Location
    Houston Texas
    Posts
    2,363

    Default Re: Allowance rates

    I agree with all of the above and add one thing;

    Don't buy everything for the kids. Let them manage their money to buy some of the 'extra' things they want like video games and toys.

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