How much allowance do you give your kids?

How much do you give them?
What age are they?
Do you require any work, if so, what do they have to do for the allowance?



This single mother gave her daughter $5,000 allowance. Cut it to $1,000 allowance.
$100,000 cash last year. Monthly $10,000 credit card bills.
https://www.yahoo.com/lifestyle/peo...ills-teen-5k-monthly-allowance-005020912.html

 

When I was a kid:
$.25 take out the trash
$.50 unload dishwasher
$5 front, side, back yard mowed+weeded+edged
$10 detail car wash per car
$free cleaning whole house on weeekends-in exchange for food, shelter, and electricity

 

What year was this? That would allow for us to see the buying power of that money.

 

13
9
6
$0

 

My old man always told me growing up " Your allowance is a roof over your head and food on the table"

 

Sounds like 1970 lol

 

I still live at home with mommy and daddy

Edit: Millennial generation

 

Let them live in our house, paid their way through school, fed them. No flippin' way I was PAYING them too.

Get a hair cut and get a real job.

 

I was given like 15 a week for snacks at school during the short breaks. If I chose not to buy snacks I got 15 dollars allowance for the week.

All chores were just free labor

 

I don't have any kids, so no allowance here. But when I was growing up my dad paid me $20 per week to mow the lawn. He did motivate me to save more for my first car. He said whatever I saved he would match. So at 14 I got a part time job washing dishes at a restaurant. Saved $2,500 one summer, after paying people to drive me to work. He kept to his word and matched the $2,500. My first truck, unfortunately, was a Chevy Silverado. When gas prices hit $4.00 per gallon, I sold it and bought a Nissan Sentra. I also made some more questionable automotive purchases. I traded the Sentra in for a Dodge Ram and then finally got into Toyota's when I bought my 2007 Tundra.

 

Lol... growing up as a kid i never got an allowance. Neither will mine doesnt mean i cant buy them stuff here and their

 

my dad was raised like that, or at least he thinks he was (pretty delusional guy). it fucked him up backwards and beyond repair. i have suffered it as his son, and I've had to learn about values like this on my own and it's been tough. one thing is true: I'm raising my kids to understand through experience that you generate your own world with or without 'wealth'. we don't do entitlement, so chores and earning and all that will be the way. but we're supportive and not dicks about cash either. all about balance.

atm I've just got a 6yr old, a one year old, and another coming in July. not bad for an old guy lol.

 

14 - $20
11 - $15
9 - $5

They keep their rooms clean, do their own laundry, plus other around the house jobs that require daily engagement. This is the money they use for things I'd ordinarily pay anyway. This give me the ability to drill savings, charity, pain of purchase lessons into them.

 

My Dad used to give me $5-20 scratching his back with a hair brush. Most of the time I got by with recycling cans and bottles, in the 80's there were automated machines you put them into and it gave you the money right there. I had a bike and skateboard that once was purchased I didn't need much of anything else. My kids get money when they work for it, otherwise wait til Birthday/Christmas.

 

Do you ask them to save a certain %, or leave it up to them, to save?

 

I don't remember what I was given and at what age it started, but it wasn't much. I remember being maybe 12 years old and thought I was the richest kid in the world with $19 and some change saved up. I do remember my dad always giving me a talk about the importance of always having something 'saved for a rainy day' which I think was part of the reason for giving me an allowance; to help teach me a thing or two about money and how to handle it. That stuck with me, even through school I always had at least a part time job and always had money in my bank account. In my 20's while most of my friends were living paycheck to paycheck, I wasn't even if I was in between jobs. I think you can teach a child a lot by giving them an allowance, as long as there is teaching behind it and you aren't just handing them money for no real reason.

 

I was told get a job and save your money to buy a car. So I mowed lawns, shoveled snow, did farm work, and had a couple small jobs. By the time I was 16 I was ready to buy a car and my dad surprised me by matching the money I made. This was the perfect start to my work ethic, and it's why I've had a job at all times since I was 14

 

Mid 90's my parents gave me $10/month, went up to $20 late 90's through 2003 when I graduated High School. Did not have my own wheels, just an older family car and parents paid for all expenses. The money was just play money for me.

 

Zero for the 15 year old, apart from paying all his marching band dues, I charge the 23 year old rent.

 

I'm actually cheating a bit on this. I run a cash box and itemized spreadsheet. I push money into their "account" on Sunday essentially forcing the money into savings. If they need cash during the week they can withdrawal some, through my wife or I. My hope is that they'll not develop a get it/spend it mindset and will let the money sit.

Until they find TacomaWorld, then there's nothing I can do...