Allowance for your kid- what age? (1 Viewer)

[El Floppo]

I know there was a thread or threads about this... search function etc.

At what age did you give your kids an allowance?

Was the allowance contingent on other criteria? Grades, behavior, chores, etc...

How much?

I'll happily kill this thread if somebody finds the other one(s).

 

[moleculo]

One thing I've been doing with my 2nd grader (3rd grade now) - I pay her a quarter for every A on a test - spelling tests, etc. I think immediate rewards is key (as opposed to waiting until the end of the quarter to reward for good grades). A quarter isn't much, but it can add up pretty quick.

 

[Tiger Fan]

Twin boys (4.5 years). They have 4 "goals" to achieve every day (brush teeth, pick up toys, pick up clothes, not go to timeout). They get a checkmark for each one. We count them up at the end of every day/week. If they get 23 in a week, they get $1 to put in their bank. They know that a toy typically costs b/w $5-$10 so they save up til they have what they want.

It's not anything crazy, but it works..and it teaches them that they have to earn things, positive reinforcement, etc. They haven't really figured out yet that it's virtually impossible for them to not get the $1/week (one of them got 23 exactly in a down week), but I'm sure that's coming, so we'll have to adjust accordingly.

 

[El Floppo]

One thing I've been doing with my 2nd grader (3rd grade now) - I pay her a quarter for every A on a test - spelling tests, etc. I think immediate rewards is key (as opposed to waiting until the end of the quarter to reward for good grades). A quarter isn't much, but it can add up pretty quick.

yeah, my kids are morons, so I'm safe from payment here.

 

[fantasycurse42]

My son won't get an allowance, just a watch every other week.

 

[Statcruncher]

Here's one of the old threads.

 

[Bucks]

This search should catch most all the threads:

https://www.google.com/search?num=100&newwindow=1&espv=2&q=kid+allowance+chores+site%3Aforums.footballguys.com&oq=kid+allowance+chores+site%3Aforums.footballguys.com&gs_l=serp.3...14238.18164.0.18636.13.13.0.0.0.0.73.843.13.13.0....0...1c.1.64.serp..13.0.0.igNB_x5Qhn4

I highly recommend checking out famzoo for making it easy to pay and track allowance, helping kids to manage money, and make it easy to move money around the family electronically. I have it setup so allowance payments are automatically disbursed into predefined buckets for spending money, savings, charity, etc. I have a % even going to a retirement fund setup to earn interest and get a matching contribution just so they can learn good habits early plus see the power of matching and compounding.

I tried the trial and then signed up for a 2 year subscription. Came out to $2.50 a month to use their system plus includes 4 Mastercard logo'd Debit cards. One is the master resource card that I load with real $ and then my wife and I have the ability to automatically or manually move money to and from the other three cards. The other cards are in the name of the kids. There are unlimited additional IOU accounts that can be setup to track money balances that are maintained outside their system. We can move money from a full browser or from a mobile browser interface right from our smartphone. I can see purchases made in real-time. If a card is misplaced I can immediately temporarily disable it from my phone without calling anyone and then reenable it after its located. And I have had no additional fees. There is a fee for using a non-network ATM but I haven't even given my kid the PIN number or told them that it can be used for withdrawals. They just use it for credit card purchases. It can be used as a credit with signature or debit card with PIN.

Here is a referral link that gives you 2 months instead of the standard 1 month free trial. It earns me $15 if you become a paying subscriber. famzoo.com

 

[Random]

dot

 

[AcerFC]

:dot:

I gamified my kids life and give them points for doing certain things. It worked out great when all they wanted was shopkins. Now that school is in full gear, we have slacked off. The famzoo seems interesting.

 

[ghostguy123]

As far as just money, we do allowance for chores and a separate dollar amount for a straight A report card. If she wasn't as smart we would do something different such as what was suggested about giving something each test or something like that.

You can start at any age, and the earlier the better IMO. The quicker they learn the value of earning money compared to how fast and easy it is to blow that money, the better.

And yes each thing is different. If she doesnt do her chores she gets nothing, but wil still get the money for straight A's.

 

[ghostguy123]

A significant allowance is even fine. Just make them pay for things that you would normally have bought them, like school supplies, clothes, stuff like that.