allowance ~ how we do it

This is how we do allowance. We start giving our children allowence when they are about 5 .
If they beg for money when we go to the store and i give them a dollar or 2 each time to spend ( or in most cases a quarter or 2 for bubble gum machines), then its time they had a monthly allowance. So that way they can learn responsibility. They know they better spend it wisely because when that's gone, that's it till next month.

When Nathan was 5 and I started his allowance . I started him out at 2 dollars a month. All he wanted his for at that time was for bubble gum machines anyway so i just paid him by quarters. And they went a long way for him. When those quarters were used up he had to wait for the next month.

As they got older and more responsible they got a bit more. Last year at 9 Nathan was getting $ 5 and Clayton at 7 got $3 a month, and Sam yet not 5 did not receive any. Though i did give him a quarter occasionally for the machines or his brothers would .

This year Nathan received $6 and Clayton $4, and Samuel $2. Then just recently Daddy decided they could have each month for how old they were. Except for Samuel we will not start that till he is least 7. I do not feel is responsible enough yet by no means. So now Nathan is getting$10 and Clayton $8.

They are so exited with the money raise and are calculating how much they will get in a year , and how much they will make in a year, a year or two from now!!

Before the raise it may have seemed like a meager amount, and some still may feel it is. But it really wasn't and realy isn't. They learned responsibly from that. They learned to save. And they learned they could with go with out that one thing, and save up more money for that bigger thing. You would be surprised at how much they saved!! And of course all their needs are met by us.

This is one of those things where less is more. "Less" taught them many more things than "more" ever would have.

I feel a big allowance would be appropriate when it is put in a bank account for the child. And is saved for when they are much older. Maybe they could be helped to save for thier first car!

Maybe as time goes by and our oldest ones get older we may have to make changes in this but for now it seems to work very well for us.

I feel its never to young to start teaching money managment skills. Younger the better really!