Allowances or when your children start working ...

Psh, when I was growing up we got to NOT get a spanking or get grounded for doing our chores.... But I think what you're doing with the money is the right thing. You're keeping them wanting to make money by letting them spend some and you're also teaching them to save and be responsible. I don't think you can go wrong!

My son is second grade and came to me the other day and said that pretty much all of the other kids were working at home and earning $10 a week for allowance. So we made a chart together of what jobs he does on certain days and that he gets $6 a week on Saturdays. I don't have a problem with how he spends his money. I encourage him to save it, but I feel since he is working to earn it, that he can spend it reasonably.

Allowance money I do think they should be able to spend on what they want, But I think that is they work or get odd jobs from other people then I think a portion of thar should go for their education or something like their future for when they want to go to college or get married or buy a car they will have the money to do so. It taches them responsibility also. And teaches them to always be prepared for the future because non of know how it is going to turn out an dit is better to be prepared then left without a net.

I don't have children so I can only speak from my own experience. When I was old enough to do chores around the house I received an allowance of .25 cents a week and I could do with it what I chose. As I grew older the allowance increased with the cost of living. Also from an early age (9) I took jobs mowing lawns, shoveling snow, babysitting and had a paper route with my brother. Again the money I earned was mine. From the time I was 14 I worked summer vacations picking beans and strawberries, waiting tables, and cabin girl and summer cottages. One summer I even worked at a fish factory gutting and boxing fish for freezing. Made a lot of money that summer but it had its drawbacks.....long hours and fishy smell on my work clothes and skin....took a long time to wash of the smell. This early exposure to earnings helped me once I went out on my own. It made me appreciate things that my family couldn't afford since if I wanted a bike or ice skates I would have to earn half the price before I could get them. +

I give allowances monthly so that they can budget it properly..and learned how to mange money. I f they have work on their own i wont get their salary and let them save it but if they are generous enough to give me some i will gladly accept it anyway.

I give each of my children an allowance on how well they do at school. In my eyes school is their "job". My eight year old gets ten dollars, my seven year old gets seven dollars and fifty cents, and my five year old gets a couple of dollars. I pay them their allowance on Saturday after I have looked at all their school work from during the week. The keep a portion of the money to be able to spend now and the put the rest up for savings.

I have always insisted that my child first tithe 10% of her earnings to the church (whether that be allowance,birthday or job earnings) then half in savings and the rest is hers to keep and spend on what she wants. I feel that this will mold her into a responsible adult who knows how to handle her finances.

When I was young my mother kept half my allowance until we had enough for us to buy me a new bike. The half of my allowance was my half of the pay; my parents paid for the other half. When I started earning my own money it was mine to keep. I cannot afford to even give my kids an allowance so they do not get one. My 14 year old earns money babysitting and with a paper route. I buy her clothes she needs but if she wants extra clothes or anything else, she pays herself. There have been times when I have bought for her and she has paid me back. My 10 year old is frustrated because she is too young to make money. Well, too lazy to do a paper route. She did make $25 babysitting tonight. The child came to our house and we, the parents, were home, but my daughter played with her and put her down to bed. My older daughter was originally supposed to babysit but a party came up so she went to that. If my kids want something big, depending on what it is, they may get it for their birthday or Christmas. We have no cell phones. My children don't have much access to the computer. If they want these things then they will have to save the money they make to buy for themselves. As for savings, my husband has money automatically taken out of his paycheque every payday that goes into two separate bank accounts - one for each girl's education. I started that with my oldest when I was raising her alone. I took money from child support and put it in a savings account for her. Unfortunately, I have had to borrow from these accounts but I have always paid it back.

Yes I do think it is there money but they chould put some in a bank so they can save some money for something they really want.

I think whether it is a allowance or money from a job you and the child should sit down and talk about the money they are receiving now. Help them to plan what to do with it. Allow them a certain amount of to do with as they please but also let them help decide where they want the other percentage to go. That way they get the responsibility of learning how to handle money.

You are right, children need to learn this at a very young age. No one ever taught me how to be responsible with money and it is hard to learn now. As soon as it hits my hand, I am ready to spend it. This is a lesson that they will need for the rest of their life. You may have to let them get upset now and know that when they get older they will appreciate what you taught them

i think there shouldn't be any allowance for me when i start working.. i don't want my parents to give me allowance too.. i think we should be more independent since we already start working.. depending too much on parents is not really a good thing for the future...i think young people that start to work should learn some financial management .. if not.. they won't understand how difficult is it to earn money.. they won't work properly too.. because they think since their parents giving them allowance.. their job is just like an additional allowance. .which is so wrong.. don't you think so?

i believe that when my kids start working then they can say that it is their money and that can be their money to go to the movies and what not but rules will still be rules because i know kids also have a tendency to buy things or clothes that are not allowed to be worn so they want to take their own money and buy it which is fine but they will not be able to wear as long as they live under my roof

I got my first job when I was 16 what my parents did was give me one bill in the house the lowest like water or garbage and so much that I could spend they put the rest of the money in the bank and they would still but me things I am an only child I am now 27 and that savings started me out good when I first started college so I say yes to the allowance to a certain extent basically provide what they need and a few items of what they want that is what my parents did.

We always had to put half of our money into our bank accounts. We got a small allowance that, after half had been deposited, could be spent however we wanted.

I believe that children should be taught at the very young age how to be responsible about money and to appreciate its value. I was taught by my parents at a very young age to always work for what I want and for the extras such as toys or shoes or new dress that I ended up being responsible when it comes to money at a very young age. It also taught me delayed gratification.

I agree. I think that kids should have to save some of there money, But I also think that they should be allowed to spend it to. They were the ones that had to earn the money and there was definetly a reason why they wanted the money, And if they are made to save half of it then what they wanted the money for they wouldnt be able to get it rite away, Which in another way showes them they they cant always get what they wanted when they wanted it..