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Kids & Money Allowance. Chores. Savings accounts. Piggy banks. How do you teach your kids about money? What has worked for you?

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Old 04-17-2005, 08:04 AM
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Teenage Allowances

My Husband and I are in the midst of receiving temporary custody of his 15 year old Granddaughter here soon. She is a very good kid but just needs some guidence outside her home agreed on mutually by both parties involved.
We havent had teenagers in the home for 6 years now and need to catch up with the times!
How much to you give out for Allowances and what do you expect of them for it? She does not and will not be driving a vehicle while she is here so that will not be an issue as far as monies.
I would like to hear of your reasonings concerning allowances pros and cons. My girls didnt have allowances just for the fact that it worked out without them at that time. I would like to give it a try with the GD and see how that works for some responsibility for her.
Thanks in advance!
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Old 04-17-2005, 09:13 AM
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My DD, just turned 21, never received an allowance. However, DH and I have been tossing around the idea of trying it out with the two DS...DS# 1 turned 13 in January and DS # 2 will be 11 in June. We're thinking of coming up with a system and implementing it over teh summer to see how it works. Now to just come up with the system!

You might want to read some of the posts at the link below to get some ideas until someone posts some help for you here.
Hook 'Em Horns!!!!
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Old 04-18-2005, 03:27 PM
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Thank you Abear! After I posted...I saw some links to my question! I will defineately go there and keep me informed as to how you figure out your "system"
Thanks again....Nancy
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Old 04-23-2005, 03:03 PM
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this might seem mean. but my 4 kids didn't get an allowence after they turned 14. they had to get a part-time job for any extra spending money. i paid for all clothes for school and all school activities but anything else they had to pay for.

they all had a paper route and learned to take responsibilties of owner a business and activities. the last two (twins) are now 18 and have been at their REAL jobs for over 3 years now. he he and still have kept their grades up and involved in alot of school activities.

good luck!
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Old 04-23-2005, 05:36 PM
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NO! Not mean at all Lornajjones2003! By the way.... I Like your last name! Mine is Jones also!
When raising my 2 daughters...they didnt get an allowance either....but I didnt buy "everything" either for them...when they were at the right age for each of them to babysit...they did. So they had their spending money....but I did take care of the necessities....Mind you, I was a single mom for 9 years so they were not carrying around Gucci bags!!

I want my granddaughter to have some structure in her life I thought by doing an allowance for her will give her some of that big responsibility. We wont have her forever...just for awhile , so I want to send her back with some common sense somehow about life how its suppose to be!

I just need some guidence on how much and what is reasonable for her to do chores for? Not a Cinderella chores...but just to have her appreciate it.

Im so out of whack with todays kid's economy and what they are spending for their "playtime" Its been 6 years since my youngest flew the nest so things have definately changed since then!

I have upmost respect for anyone raising teenagers in this scary it is to me to hear and see what is going on out there now. The peer pressure they have!

My DH and I do not go to the movie theaters as I am too restless to sit for that attention span is shorter than this sentence!! I know it costs plenty to go to the show now, so I am trying to account for that kind of "playtime" as to how much they need to go out that that and be comfy.

Thank you for writing.......and I agree with everything you have to say...every household is a different situation, so I am looking forward to hearing all kinds of views on this subject!

Thanks again.......Bowlergrl2000
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Old 04-24-2005, 05:29 AM
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I have one daughter and altho this may seem over the top to some....I give her $100 a month to either spend or save. She saved for a Playstation2 recently and now spends some of her money on games. These games range from $17 for used up to $30 for new. She also enjoys all those lotions and bath gels at Victoria's Secret. She uses the rest for buying friends gifts, going to the show, buying music cd's or whatever else is on her to do list. I also recently put a JC Penny card in her name. It makes it easier on me if she shops at the mall and finds what she likes ie: clothes, purses whatever. She does call and check with me before she uses it. Ironically, she is very frugal and usually has more money stashed than I do. LOL Because my daughter is disabled, she doesn't do alot of chores. She does keep her room clean and does what she can like cleaning the bathroom sink, folding clothes and whatever else she can reach.
I sell Jafra Cosmetics and recently told her if she gets orders from her friends she can keep the profit.
Don't know if this helps you but it works for me.
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Old 04-24-2005, 07:52 AM
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I have had five kids and still have 2 teenagers and a 21 yr. old living at home.
We make the 21 yr. old pay for his own things as he gets a grant and is going to college. But we still make him responsible to do the dishes and trash and some of the chores around the house as we don't charge him for rent.
The other two kids mow the yard, do dishes on their turns, and the trash and vacumming the floors. Instead of an allowance for those jobs, we pay for the extras at school and for their camping trips with scouts and occasionally give them money to go to the movies or other activities when the need arrives.

Sometimes if they really want extra things or money they do small jobs for other people and get paid and spend that on what they want to buy.

I know how hard it is trying to raise grandkids. My Mom and Dad took my two nephews for three years or more and finally got the oldest one graduated from high school. Then after having the second one for five years he quit school after turning eighteen.
But they would give them money just to spend and sometimes for activities outside of school. But would expect them to keep their rooms cleaned and help aroud the house.

Hope this gives you some ideas. Good Luck and I'll be thinking of you.
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Old 04-24-2005, 11:48 AM
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Hi Pleiad and VicRae! Thank you! old is your daughter?....Your idea sounds very reasonable also...that would teach frugalability(is that a word! LOL!)......And my thought is we rarely carry cash on us given that we use our debit card so easily I have been thinking that if I paid her every week I would forget to get the cash on that once a month would solve that problem, plus make her budget her money also. I think I will try the monthly way after I test her out on a few weeks just to see how she handles a small sum of cash and how well she will be doing on her miscellanous chores to earn it.

I do remember asking my parents for an allowance when in Jr. High when I discovered alot of kids got allowance but we didnt....they said either they could give us an allowance and we could budget our money ourselves....or we can keep it the same as it was and give us money when we needed it!! Well that made sense to me!! Ill stick with the "give me money when I need it" program!! And...we were not rich by any means.....we didnt get EVEYTHING we wanted...we knew our limits for sure...but it did make sense to us. I do not ever recall being mad about not getting something I really wanted or needed so it worked out well for us.

Thats why I have this prob right now cuz I didnt grow up with an allowance and with that behind me...I never gave my girls one either.
So its a big trial area for me here with the GD coming...I just want to give it a try and see what happens.

Cudos to your parents VicRae! There are sooooooooooo many grandparents, Aunts & Uncles, etc now a days that are taking care of "2nd Families" now. Its not unusaual to see 50ish, 60ish couples having young children live in their homes.

I work for CPS(Child Protection services) so I see alot more than I really want to sometimes. But thats a whole different Forum! LOl!!!

Thank you for your help! Its giving me alot of ways to go!
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Old 04-24-2005, 06:28 PM
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You asked how old my daughter is.....wellllll that's a good question. She is 33 chronologically......but she is disabled.....has learning disabilities and other issues so i'd put her in the teenage bracket.
She didn't learn to tell time till she was in her Senior year and math has always been her weakest area. This is why I started giving her allowance and got her a credit card in her name off mine. I pay the bill on the credit card.
Her friends help her if she gets stuck and we go over receipts and what she has left after she shops. It seems to be working well and I guess you could call it my own little form of "independent living skills development."
I think rather than a dollar what you are comfortable with and seeing how your granddaughter does is a very wise decision. I'm for teaching responsibility and value of a dollar. Good luck to you !!
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Old 04-25-2005, 06:15 AM
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When I was growing up, my parents gave me money as I needed. I agree with my Dad, when he said that he put a roof over my head and provided the things that I needed when I needed it. A teenager shouldn't expect to get paid for things like cleaning their room, doing dishes, laundry or vacuuming. Things like cleaning out the garage or out of the ordinary might be good incentives for earning extra cash... or like others mentioned paper route/babysitting.... or mowing/raking neighbors yards. I don't have children, but I have 8 nieces and nephews who stay with me from time to time and they all are expected to do chores (make beds, pick up their dirty clothes, towels, wash dishes, etc). Extra things I give them a little bit of cash. One of my niece's (13) has a good work ethic already. She actually asks for extra chores to get cash so she can buy the things she wants. Good luck with your allowance situation!
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