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Thread: Question for parents

  1. #1

    Default Question for parents

    What are your thoughts on your kid having paid allowance would you paid your kid or no? That question always makes me wonder for when i have kids

  2. #2

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    If I have kids the simple thing is if they do chores then I'd give them maybe $5 a week and upgrade it when they get older. You can't spoil your children whatsoever...-_-

  3. #3

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    My kids have to earn their allowance. Best to know that there is nothing like a free lunch early in life.

    I want my kids to know the value if money without turning them in to mercenaries. I want them to be prepared for life and teach them some lessons that schools don't

  4. #4

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    I went to a parenting class and this is what their "theory" is: Allowance is a given fund for spending freely at will. Chores are a duty and this is something that is assigned regardless of allowance. The thing to teach is that they have amount x given at time T and there is no more x until the next t.

    The issue is that responsibility for work is something separate from allowance.
    The ability to buy is dependent on allowance and should not be associated with work.

    The whole point is to keep award and punishment for decisions to do or not to do work need to be separate from the lesions of things bought/want and choices to be made.

    I hope that it makes since.

  5. #5

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    I was given a paid allowance when I was a kid, so we did the same with our kids. We had a deal where we would buy their clothes for them (of course) but if they wanted designer clothes, they paid the difference with their allowance. So if they wanted an Izod shirt instead of a Penny's shirt, they paid the difference in price from their allowance.

    We also tempered buying with need. Sometimes we would buy a video game for them if they wanted it, or something similar for our daughter. Everyone does things differently and I'm not sure there is one good definitive answer. I've also heard that you shouldn't give your children an allowance for chores because they should do it for free. The theory is that each person is a part of the family and works for the benefit of the family.

    I align with work for pay because it teaches children the meaning of work and money, something they will have to do as an adult. If also gives them a sense of the value of money, that it doesn't grow on trees. It also teaches them to save and have some sort of a rudimentary budget. I think all these things are important to learn as part of the growing up process.

  6. #6

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    Quote Originally Posted by zackiepooh1992 View Post
    What are your thoughts on your kid having paid allowance would you paid your kid or no? That question always makes me wonder for when i have kids
    Don't have kids - but there's two things:

    I think it is important for children learning to be responsible with money - and if they never manage their "own accounts" then they'd learn it a tad too late in my opinion.
    But I certainly am outspoken against simply giving them an allowance without any "reason".

    There's a few things I would do:
    - have them keep a spending book - basically a very very simplified form of accounting / balancing.
    - Let them have certain jobs that are NOT basic chores (as I dont' believe anyone should be paid for doing dishes or cleaning their own room). But say if they want money they can come and help cleaning my work-shop... or wash the car, clean the bike, repair stuff (if they are willing to learn)...
    - I would have them write down the hours, date and job and I would agree on a small hourly rate (getting higher with age & skillset)...
    - and by the end of the month they would need to present the book / work-sheets and if done correctly they'd get paid for the extra-work as agreed... if the books aren't in order - no money.

  7. #7

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    Quote Originally Posted by EPO1 View Post
    Don't have kids - but there's two things:

    I think it is important for children learning to be responsible with money - and if they never manage their "own accounts" then they'd learn it a tad too late in my opinion.
    But I certainly am outspoken against simply giving them an allowance without any "reason".

    There's a few things I would do:
    - have them keep a spending book - basically a very very simplified form of accounting / balancing.
    - Let them have certain jobs that are NOT basic chores (as I dont' believe anyone should be paid for doing dishes or cleaning their own room). But say if they want money they can come and help cleaning my work-shop... or wash the car, clean the bike, repair stuff (if they are willing to learn)...
    - I would have them write down the hours, date and job and I would agree on a small hourly rate (getting higher with age & skillset)...
    - and by the end of the month they would need to present the book / work-sheets and if done correctly they'd get paid for the extra-work as agreed... if the books aren't in order - no money.
    Your answers are interesting now what are your thoughts on paying kids for good grades in school?

  8. #8
    acorn

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    Quote Originally Posted by zackiepooh1992 View Post
    Your answers are interesting now what are your thoughts on paying kids for good grades in school?
    Like the good advice given from others, as children do get a jump-start in their numeracy skills when having to look after their own allowance. The most important part of this is they also get to appreciate some sort of value with money.

    Not doing household tasks for, or not rating school grades to allowance given is a powerful argument, for it can have negative consequences for all concerned. That said, I'd not see a problem of payment for preforming tasks beyond basic household needs as outlined by the poster you quoted.

    Though that said - no post is complete without a personal attack, so I'd have to say he (the quoted poster) has failed as he overlooked ensuring the (hypothetical) child is going to be compliant with the Government Revenue Dept'. Epic fail, in my opinion.

  9. #9

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    Quote Originally Posted by egor View Post
    Allowance is a given fund for spending freely at will. Chores are a duty and this is something that is assigned regardless of allowance. The thing to teach is that they have amount x given at time T and there is no more x until the next t.
    I agree with this.

    It's a basic concept that allows children to understand the worth of money, items they can buy directly or if there's a need to save money over time, since their "income" is fixed.

    Chores on the other hand are a kind of duty, a social skill(?) that no one should lack regardless of money. Although of course any extra help should be rewarded somehow a bit. ;)
    Although I may be biased, since that's how I learned it. But I've seen way too much children having no allowance at all in grade school and they got things "paid" usually from their parents if they asked for them. It teaches them nothing about how much work or time some things may require and in the end they came crawling back to their parents in their teens since they usually spent all their money way too soon and wanted to have this, to go there and so on. Ultimately some parents have been caving in and... well... lesson not learned.

  10. #10

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    Quote Originally Posted by zackiepooh1992 View Post
    Your answers are interesting now what are your thoughts on paying kids for good grades in school?
    NOT AT ALL.
    (paying for grades).

    I would NEVER encourage anyone with MONEY as an incentive to learn, get more knowledge etc...
    I think that would be really the wrong approach.

    I'm not saying you can reward a kid for good grades, but more than being "proud" and showing support? no.
    Also I personally think "grades" are being taken far too seriously anyhow. So I wouldn't put more gravity on it by rewarding them with money.

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