Allowances

[thalassa]

Yes? No? How much? What age?

[DragonsFriend]

Re: Allowances

Monetary rewards, yes; Allowances, no.

[thalassa]

Re: Allowances

Monetary rewards, yes; Allowances, no.

IMO, two words describing the same thing--giving kids money as a reward.

[DragonsFriend]

Re: Allowances

In my world rewards com from doing more than asked, while allowances are money for just being. Earning money is much healthier than gifts of money.

[DanieMarie]

Re: Allowances

I'll dish out some money for chores when they're younger, but when they're around 12 or so, I'll do what my parents did at that age. Make them write out a budget of their needs (including clothing for the year, school supplies, personal care products, going out with friends, etc), and then show them how to divide up the occasional costs into monthly costs. Then, I'll give them an allowance based on those costs, and they will have to buy everything themselves with that money. Clothes, shoes, school supplies, shampoo...everything. If they run out before the end of the month, too bad (unless it's something like toothpaste...then I might be a little easier on them). I know it sounds kind of insane, but this is how I learned about money, and I'm REALLY good with money now.

As for amount, I can't say. Even if I had kids tomorrow, the cost of inflation would greatly affect the cost of their expenses and it's hard to say where inflation will take us in 13-15 years.

[Briton]

Re: Allowances

I'm not a parent yet, so really I am idealizing, but before they're old enough to work, they will need you to pay for things for them. You may as well teach them to be responsible for money, so if there is an allowance based on what they need, it only comes when they've done certain things, ie chores or done their homework/assignments etc.

[Shahaku]

Re: Allowances

Yes. Giving kids money for doing their required chores can backfire. If/then money can teach them that everything they do deserves to be rewarded or some such. It decreases generosity. Doing things just because. A lot of what I've read says to give your kids an allowance so they learn about money, but keep that separate from the things they have to do, just because they have to be done, like chores. How much? I agree with Danie, whatever I would be dishing out anyway to pay for their needs, plus a little for spending/socializing. And pre/early teens.

[DanieMarie]

Re: Allowances

Yes. Giving kids money for doing their required chores can backfire. If/then money can teach them that everything they do deserves to be rewarded or some such. It decreases generosity. Doing things just because. A lot of what I've read says to give your kids an allowance so they learn about money, but keep that separate from the things they have to do, just because they have to be done, like chores. How much? I agree with Danie, whatever I would be dishing out anyway to pay for their needs, plus a little for spending/socializing. And pre/early teens.

Agreed. I think it's ok for a few special chores, but I don't like the idea of tying all chores (or even most of them) to money. My boyfriend also brought up a good point once that no one pays you to do housework when you're an adult, so it's best that they just learn that it's something that has to get done.

[Herbert]

Re: Allowances

I'm a teenager, which means I'm likely biased, but modern grading systems often allow for week by week grading reports, in each individual class (the system my school uses, oddly enough, is named ISIS), so why not base allowance on that? A dollar per weekly A, three quarters per weekly B, two quarters per C, and a quarter per D (or more, or less, or whatever)? It would provide tangible rewards for just going, after all (and being payed, even minuscule amounts, to go to school, generally leads to grade increases, when school systems implemented it).

I mean, some people think that being payed to go to school (in this case, in lieu of an allowance) teaches the wrong thing, but people don't work for free in the real world (and it certainly is work, at least for someone still developing).

[DanieMarie]

Re: Allowances

I really wouldn't. My parents never did, because in college no one is going to pay you for good academic performance, and in most cases in real life, no one is going to pay you any more for outstanding work performance (at least not immediately....you might get a promotion or a good year-end bonus, though). Also, they wanted me to get good grades for myself and not for the cash. As I am slowly morphing into my parents as I get older, I totally agree with them.

[Herbert]

Re: Allowances

It's less about rewarding them for outstanding performance, and more about rewarding them for just showing up, because that boosts performance. It could also be based on attendance, really.

[Hawkfeathers]

Re: Allowances

I think a modest allowance is a way of teaching them to budget for their smaller items, and not have to pester you every time they want some little thing. I used to get fifty cents a week when I was 10 years old.....back then, that bought wax lips, candy cigarettes, dill pickles, and stuff from the gumball machine, and that's what made my word go 'round.

[DanieMarie]

Re: Allowances

It's less about rewarding them for outstanding performance, and more about rewarding them for just showing up, because that boosts performance. It could also be based on attendance, really.

But showing up should be expected. You don't get rewarded just for showing up in life. That's the most basic life skill you can have.

[thalassa]

Re: Allowances

But showing up should be expected. You don't get rewarded just for showing up in life. That's the most basic life skill you can have.

Sure we do. I have a job. I get paid to go to work. As long as I am minimally competent and do my job, I get paid the same as if I bust my ***. In fact, if I bust my ***, I get MORE work with higher expectations, because I'm now held to a higher standard with shorter deadlines. I don't get more money or promotions for more productivity, I just get more work. For me, that isn't a problem... I am incapable of doing anything half-***ed. I'm not terribly ambitious, nor am I a perfectionist, but I can't stand to not have anything to do and I don't like sloppy jobs. If you are going to do something, it should be done right and preferably the first time. I believe in taking responsibility for one's actions, including mistakes. Unless someone is doing piecework, getting paid by the pound, etc, what you actually do has nothing to do with what you actually make, as long as you show up on time and go through the motions. And this is true in most job sectors, whether its fast food or the military. Trust me--I worked at McDonalds in high school, and I never got paid more for being faster or more accurate or having better customer service--your raise was based on whether or not you were buddy buddy with the manager. Not much different from making rank in the military--as long as I scored well on a test and my chain of command liked me, I was golden.

[Hawkfeathers]

Re: Allowances

^^^ Agree. I've literally been told "we don't pay you to think". Creativity/vision are a threat to the powers that be.