Kids and Allowance...
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Kids and Allowance...
| Sun, 02-21-2010 - 9:38pm |
So what age will/do/did you do allowances for your kid(s) if you do? We recently started allowances for our 2 sons. We do $1 per year of age. For instance my 4 year old gets $4. He does a lot of chores around the house. Some are expected and others are in addition to them. He gets $1 to keep to spend however he wants, $2 to save for the bank, and $1 for a charity of their choosing. Do you do allowances? If so, what do you do? If not, will you when they are older? I look forward to your responses :)
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I never got an allowance so I really haven't thought of it. If we wanted $$ for something, we got an "over and beyond chore" and my parents gave us the money for whatever it was we wanted the money for. So, my weekly chore was cleaning the kids bathroom...if I wanted $$ to go to the movies, I had to clean my bathroom, the other two bathrooms, and dust...then I got $10 towards the movies..If I didn't help out, I didn't get the $$...
I like the idea that they have to give part of their $$ away and put part into savings...we just may do that...I like the idea of $1 per their age...
One thing my friends dad did when they got older was that as soon as they turned 16 he gave them a car (he owned a car dealership), but they had to get a job and make payments on the car (even though it was paid off)..He took the $$ and put it into savings...he gave it back to them after 5 years...the same as a car loan..and the pink slip to the car...
Sarah
Wife to Kevin
Step-mom to Justin (11)
Mom to twins Grace and Isabelle (3)and Boyd (21months)
Sarah
Wife to Kevin
Step-mom to Justin (11)
Mom to twins Grace and Isabelle (3)and Boyd (21months)