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I have three children (ages 13, 10, 8 ) and would like to establish allowances for them. Although I grew up not getting an allowance and initially thought that it was not good for my family, I now am changing my mind in order to teach my kids how to manage money now as kids prior to becoming an adult.

My question is if others out there have a system for giving allowance to their kids. Performance based seems to be the only way that I will go, but that will require a trendous amount of oversight and I foresee very aggrevating. I would be interested in hearing others ideas and examples of what you use. Thanks.

This is what we use, the amount they get is equivalent to their age every 2 weeks...

ie my 13 year old gets $13 every two weeks...11 year old $11....6 year old $6

They have to do their chores...if they have to be reminded toooo often they get a notation marked on the kitchen calendar and their pay is docked. This is the way it works in the real world, you don't work, you don't eat. (in their case they don't work they don't get new video games) Their chores are pre assigned and are the same every day/week.

We have always thought that giving an allowance without associated chores teaching that you can get something for nothing...we use

2 Thes 3:10 10 For even when we were with you, we used to give you this command: “If anyone is not willing to work, neither should he eat.” Context (NET)

Anyway that has been our experience with our own children.

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I think having an allowance is a very good idea for children old enough to understand money and some mathematics. Apart from anything else, it can be used to teach the idea of saving - instead of instant gratification which seems to be the way children are raised these days.

My children are all now adults, but their "work" was to do go to school and do their best. Household chores were an assumption - everyone beneftits, everyone contributes. Extra tasks could be recognised with extra money and babysitting for church folk added some too.

Their allowance - called pocket money at the time - was for entertainment, special odds and ends, books, gifts etc. So to get a dvd/ cd (cassette tape in those days) you had to save ... to go to the movies or have pizza with some friends now and then would usually be covered. We used a fine system for bad language with the one who valued money ... time out or loss of tv time meant more to the others. They were expected to give to church from their pocket money - that was stated but not policed.

At the time, we did not encourage having part time jobs (as older teenagers) in the belief school was enough. With hind site, I think I would now encourage a few hours part time work in lieu of an allowance ... and maybe expect a proportion towards household expenses as well as some regular Christian giving.

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I actually started giving allowances as a result of becoming a foster parent. A case worker told us it should happen, so it did. And then in an effort to be just, my kids started to receive it as well.

They all have chores, but their allowances are not based on their chores and their chores have to be performed to the best of their ability regardless. Something about tying the two together seemed incongruous. When they grow up they will still have to do laundry, wash dishes, etc... and no one will pay them to do that.

The other part is, they have to learn to manage their money. And so, we have advised, but have taken a "hands-off" policy (also influenced by our being foster parents) as far as how they spend their money. One has a bank account, but is always broke and asking for more (which is answered negatively) and one doesn't yet always seems to have money when he wants to buy something which mom and dad will not pay for. A frequent question when they come with us shopping and they ask about buying something is How much money do you have? Followed by an exhortation to save there allowance. My two older boys definitely know how to live on little. And as they are almost out on their own, that will be a good thing. The two younger boys are still learning. The foster kids as well have provided an interesting look into human nature. I'll leave it at that except to say there are success stories and some stories to serve as negative examples.

The amount was graduated according to age teenagers get $10 a week, and preteens got $5 a week. And that is given every two weeks, just like my wife and my pay schedule.

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Allowance is a great thing. I think one of the most important thing that parents almost always neglect to teach their children is smart money managing. And what better way to teach them then with their own money they earn. My children have chores that they need to get done and weekly get money for what they complete. It also helps keep them involved in the family!

I find it best when putting your children in an allowance system that you give them a list of objects (chores, homework etc.) from the beginning of the week and their will not be any aggravation. Consider it a way for them to manage both time and money. You do not want to overwhelm a child by suddenly giving them work when they feel they should be on free time. Establishing a schedule early on gets the child into the mode that they still must complete a task before the end of the day. I even go down as far with timing with my kids.