I gave a class the other night for our ward Relief Society on budgeting. First of all it went really good but I'm curious to know what some of you think about giving kids allowance. It can be touchy since some people have very strong opinions about this as well as just being very strongly opinionated!! (hee hee) I won't tell you how me and James handle this with our kids yet. First I want to see what all of you think!!!
6 comments:
As a kid I never received a drop of allowance...course with 7 kids, how kid my parents have afforded it, right? :) I think it can be a good thing if it's earned for things done above and beyond the basics...I won't be giving an allowance for making a bed and keeping a room clean. But after the basics are met, maybe a little something can be earned for extra chores around the house. What age do you start that at though??? Maybe once they can count money?? :)
I think in today's society where a lot of young people just expect things to be handed over to them I think earning an allowance can help teach kids the importance of working for what you get. I also think it can give parents a great way to start teaching their kids how to manage money. If kids are taught to tithe, save and spend responsibly from an early age those habits will hopefully carry over to their adult lives - but that's just me!! :-)
I see nothing wrong with an allowance, because that way you can teach your children how to save money and budget. Otherwise, how will they learn? We used to have a chart for them with something they wanted to get on it. They would make a mark every time they got closer to it. They also had their saving box: one slot for tithing, one slot for college saving and one for spending now or save for that special thing. Now that they are in college they still do something similar with the money they earn from their college job.
I fully think that every action has an opposite action attached. We make our kids earn their allowance. Each chore is assigned a cent amount. If the chore is accomplished without complaining or being asked a second time they earn it. If not, it is deducted. Works for us! Teaches them to count, pay tithing, and save!
When we were growing up we did receive an allowance.(But, there is only two kids in our family) The allowance amount was according to our age. When I was 8, I got $8, and it was split into 3 ways; tithing, savings, and spending money. I really enjoyed it as a kid, because it taught me how to save, spend and pay tithing. I actually do the exact same thing as an adult. Every family is different so you do what is good for you guys. Oh, by the way, my parents made us work for it too. We were NOT allowed to be LAZY. House cleaning, the lawn, the cars, my brother and I did our part. I think we deserved it, and it wasn't a lot of money. It worked well for us.
I think kids deserve an allowance. I think kids need to learn that if they work at a chore then they are recognized and then rewarded. An allowance is simply a token of the accomplishment, but the real lesson is in how you tech your child to save/spend/pay tithing/ or share their allowance. Once they grasp that working for this "token" allows them the freedom to take care of wants and needs I think that you've taught a very valuable life long lesson.
I'm sure whatever you 2 decide will work best for your kids and you'll do what's right for your family. I also think just pitching in and doing your part to help and support your family is pretty awesome to. The reward ... A loving happy family and that's priceless! XO
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