I just heard on the news that 34% of 18 to 24 year olds are still getting an allowance from their parents.
I am not going to use this post to condemn those that are doing this, I am just going to share my feelings about allowances in general.
I remember when my husband talked many years ago about this subject. It was the first parenting opinion that we did not see eye to eye on…at least at first.
He just assumed we would do it and I just assumed we wouldn’t….both of these assemptions were based on how we were raised…I would like to add that even though my husband got an allowance as a small child he had a “job” outside the house by the time he was eight so it was a short lived thing.
We decided that we wanted our children to do things around the house because it is the right thing to do…not because they were going to get paid for it. This is what family is to me….I took care of my parents not because I got paid…it needed to be done…I babysit my grandson..not because I’m getting paid…I want to help. These are how I want my children to view the world…how can I help.
Now I realize that there are special things that kids want and I always tried to have jobs on hand that I was will to pay if they wanted to do them for me…such as wash my car or lay mulch.
I am not saying that my idea is the best…in fact I will be the first to admit that I probably spoiled my children and gave them way too much without them having to work and save for it. I am just warning you young moms…the time that you will have to think about this will come sooner than you think so you might want to start thinking about it. And while you are at it you might want to decide when the allowance will end…personally I think 24 is way too old.
Do your kids get an allowance?
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I was given an allowance, both as a child and once I went to college (I was living at home, but commuting an hour each way.). Having said that, I was taught not to expect it – it wasn’t a given. I was required to help out around the house, not for pay, but because I was a member of the household. In the beginning it was definitely tied to chores, but over time it was more “here’s $20 spending money for when you go out with friends – make it last”. It taught me a *lot* about spend some, save some, give some. I had to make it last. Because of that, I’m extremely careful with money. We didn’t always have extra money when I was growing up and an allowance wasn’t always possible. I had to learn to deal with it. I think those lessons have prepared me a lot for being an adult.
I’m with Christina. I remember receiving $10 a week in high school. It was for anything I wanted to use it for, including lunches (which were $1.50 in the cafeteria, I think). If I wanted to use it for something else, I could pack a lunch from home, and I often did.
I’m very blessed in that my parents paid for my college, except for my second year, because I screwed up my first year. I had to pay for my sophomore year at a community college. Once my dad realized I was serious about school again, he agreed to pay tuition, books and a little more for my bachelor’s degree. I was responsible for living expenses. They gave me an “allowance” of about $200 each month for gas in my car, incidentals, and spending money. I lived with my grandparents so that I wouldn’t have to work to pay living expenses. Again, very blessed because my grandparents allowed me to live rent-free. I graduated on the Dean’s List at 22.
I believe that the only way to teach kids how to handle money is to let them handle it. My 7 year old son gets an allowance of $3.50 a week (50 cents per year of age). He is expected to do certain things everyday (pick up after himself, set and clear the table for dinner, feed and walk the dog, take out the garbage) to help around the house, but it’s not tied to the allowance. I have a rather extensive list of chores that he can do to earn extra money to save up for specific things (vacuum, mop, toilets, clean out the car, etc). Right now, he’s working toward a skateboard. Last fall, he saved up for a $50 video game. That one took a loooooong time! If we are out and about and he sees something he wants, I generally tell him that he can spend his allowance on it or put it on his Christmas/birthday list. He usually remembers that he’s saving, and decides that he doesn’t really want it (but not always!).
The trick is to not give in and buy stuff for them anyway if they run out of money. Otherwise they never really learn that money is a limited commodity.
what a great gift you dad gave you by not bailing you out that year that you messed up….I think that is one of the hardest things as a parent that we face…at any age
Wow. This really opened by eyes. I’ve given my children allowance since they were young, but now as teenagers, they refuse to do extra work around the house unless they get paid for it. I wonder if the allowance caused this…
my kids are grown and they need to give me one
heheheee…I’m liking the idea of that!