By AnIslandGirl
on Oct 05, 2010  

My daughter gets $50 a week. She knows that this is her money to do with as she pleases (uses some on gas, shopping, etc.), and other than cloths food and vacations, we don't buy her anything except for holiday gifts.

By bgpgirl
on Oct 05, 2010  

I don't believe in giving an allowance or in iving rewards for good grades either. As far as an allowance is concerened, I feel that by being a part of the family everyone pitches in and does their part, period. As getting decent grades is non negotiable. Children can mow neighbors yards, babysit etc for spending money if they aren't old enought to get a part time job.

By BPINDER
on Oct 05, 2010  

My children have been taught very early on that allowances are earned. Also we try to make sure they understand the value of saving.

By fishersonia
on Oct 05, 2010  

My kids are to young to give an allowance too. But I bet I would give them money for chores and I would have to approve what they spend it on. And I would also teach them that they don't have to spend all of it...but that they can save some too!

By IvoryAngel
on Oct 06, 2010  

My son gets an allowance based on the work he has done all month ..for example doing one load of clothes is 3.00. I created a questionnaire for him in Google forms with things he can do and how much he is to get paid for doing them so when he completes a task his balance goes up on the reverse if there is something that is mandatory for him to do and he does not complete it he gets monies deducted from his balance. Basically, the sky is the limit his allowance can be what ever he shows effort in doing. It also allow's him to learn real life skills!

By mommyof3ree
on Oct 06, 2010  

My children are 5, 3, and 1. But it may be a good idea to start so they more likely to help with houshold chores.

By veronicapav
on Oct 06, 2010  

My girls get an allowance of about $5.00 a week depending on if they have done all they were asked to do. They can also earn extra money if they do extra chores around the house for me. But in those tight days where the money is running short, we will borrow cash off of them and repay them with interest. Usally about $2.00 more than what they loaned us. It not only teaches them to share but to invest wisley!!!!

By ambercarr
on Oct 06, 2010  

My son is only 4 years old and he does get an allowance. He is my only child and we used to buy him everything he wanted but, he never did anything for himself. His toys were always all around the house until I cleaned them up. Well that has since changed. He gets $2 a week...yes, I said $2. He thinks it's the best thing in the world. He keeps his bedroom and toys cleaned and helps out with the dog. Of his two dollars he has to put one dollar into his piggy bank. Once a week I take him to the bank and he deposits his money into his savings account. He thinks it's fun and at his age he is still learning about money so in my oppion it's the best time to start. When he turns 5 yrs old, we will bump it up to $5 a week and he still has to put half of his money into his bank account. When we are at the store and he see's something he wants we tell him how much it is and how long it will take to save up for it.

By MyEmptyCanvas
on Oct 06, 2010  

When I was a kid, I used to get $7 a week... but it wasn't for doing chores, etc. because as a family member it was expected to do your part, even if it was little things like picking up my toys, feeding my pet, doing good in school or putting up the linens/ sheets (I was short, so I couldn't reach the top shelves where the towels went LOL). After helping out all week when we went to the store for something I'd get my "allowance" to spend on whatever I wanted, more-so like getting a treat or reward just for me to have for myself. Sometimes I'd even save it to go to the movies.

By MissGarces15
on Oct 07, 2010  

My son is in Kindergarten. He has chores that are expected of him. When he completes all of his chores he gets $1 on Saturday. He can chosoe to spend this money how he wants. This is a great teaching tool for introducing young children to money as well as the value of things. He also understnads that if he spends the money, he will not have any until the next week when he completes his chores. He has learn the ability to share, sometimes he tells me, mommy, I'll pay for it and takes out his dollar. Very sweet.