Chores and allowance?

Question

My son cleans his room, dusts his room, puts his laundry away, sweeps the floor in the kitchen after dinner washes the table, and sometimes puts away some of the clean dishes, he is 7.

My daughter is 4 and she cleans her room, and helps pick up the living room

What allowance should they get per week?

Do you think the allowance some of it should go into a piggie bank or their bank for later purchases and the other half they can keep for toys or to save up for something big?

Answer 1

I agree with the first poster...

5 for the 7 y.o and 3 for the 4 y.o.

If the 5 y.o can sign her name.... go open them up savings accounts. Have them put a couple dollars each week in there. Maybe only 1.00 of the 4 y.o money to start.

They will learn about saving money. Every once in a while allow them to withdraw some money to buy something they want. This way they see the purpose of the savings account. Save the piggy bank at home for the change left over from their spending money. Then when its filled they can cash it in. Spend half and save the other half.

Good luck

Answer 2

hey when I was younger 5-16yrs old,..I had an allowence of starting 50cents and gradually up to $20 week for when I was 16yrs old...I helped out around the house with what I was expected to do..PLUS I did other things as well to be helpful that were not expected but I offered to because I liked to help out...so I did extras..but didn't get paid for it, I just enjoyed helping out, and others.

Allowence is good incentive

Answer 3

My son is 8 and gets $20 a month. He must put 15% in savings, tithe/donate 10%, and he pays taxes(just a penny but he gets the idea). He must also use his money for anything he wants to buy that is not a neccesity: book orders, movie rentals, junk food, toys, etc.

Answer 4

We don't do allowance in our house.  We have another system that involves fake money.  They earn money for each chore they do and that money is used to buy priviledges, like computer time, or time where they control what we watch on TV (with-in their limitations), on weekends they can buy "sleep where you drop" which means they can stay up until they fall asleep in the living room watching movies or reading a book.  Our 3 older kids are way more into it than our younger 2.

Answer 5

We don't do allowances in our house.  We expect our children to help around the house and do chores because they are members of the family .... and there are just things in life you have to do,  like all the household chores that you just don't get paid for.    All of my girls clean their rooms,  change their sheets, put away their own clean clothes.  They also have to do either the trash, dinner dishes, or take care of the dog for a week at a time every day.  If they need or want money we give them an option of other household chores to do for set $ amounts.   Or whatever project we would like their help with.   There are also money making opportunities in our neighborhood,  like helping with lawn care,  dog walking, and babysitting.   It's been working for us so far,  my 11 yr old bought her own TV last year!

Answer 6

u should have that as an expect tation and u should not have to remind them to do it but u can have are ward system as 10 extra min on computer or video game and if u have to remind the u should take time away.

Answer 7

I agree with the other users who have other systems than allowances, because it seems like everything in this world is based around the idea of money. Consider what your children would spend their allowances on, and then make those special things a treat for good behaviour, which includes their currently chores. As they get older, you can add additional chores for which they can earn extra money to put towards larger purchases. By the time they are 12,13,14, they should be babysitting, cutting the lawn, shovelling, or doing a special skills to earn money themselves--at which point you can talk to them about things like taxes, donating and higher education.

Meanwhile, let them know that as important as it is to donate to charities, most charities are short on volunteer work: instead of saying "you have to give your money to the food bank", have them go out the night before halloween and trick or treat for canned goods, or work a day at the food bank so they understand the problem and the process of charity/volunteerism, rather than throwing money at society's problems.

Answer 8

It sounds like you're kids do a pretty good job at cleaning up around the house... I'd have your kids save at least some money, i really wish my mother did a system like that because I'm 18 and I'm terrible when it comes to money! i wish i learned earlier in life how to save. a 7 year old doesn't need THAT much money so I'd say around $5 a week. or maybe do $7 and they get the amount of money for how old they are... kinda cute and that way it stays fair.

Answer 9

We split the money our kids earn.  It all goes in their piggy bank and then every month or so we count it up and half goes into their savings account and they get to keep half.  It shows them that it is important to save and not spend every penny you come across.  My daughters class actually earns fake money and they have to pay taxes too!  She's third grade and my son is first grade!

Answer 10

my kids only get a dollar a week and they're happy with that. usually we put it in their bank but if we're going to the store they can take it out and they have buying power. sometimes my husband and i add too it so they can afford it but we let them know its because they were extra great on their chores that week.

Answer 11

hmmm id say five dollars for the 7 year old

and three for the 4 year old

i think they should get all the money and they can choose to save up or spend it fast

Answer 12

I think you should give a weekly allowance, but considering their ages, I think you should start small. Since she is so young, perhaps a dollar a week would be suitable for your daughter. Two or three dollars a week would be okay for your son. In a couple years, increase each amount by a dollar or so. By the time they're in high school, they should receive between five and ten dollars per week, depending on how much work they do around the house.

As a child, I kept all the money I earned. My parents didn't force me to put any into a bank account, and I kept it all in cash. I rarely spent it, though; I was always very frugal at the mall. By the time I entered college, I had over five hundred dollars in cash (I did put it in a bank account at that point, though, lol).

I think giving a monetary allowance is important--it teaches children that there are material rewards for hard work and provides a convenient way to learn about basic economics. If you kids want to spend all the money you give them, they should be allowed to do that. If they want to save it, that's fine too. Just teach them how to be responsible with money and not to make thoughtless purchases.