So my 7 year old begins a conversation with me last night about allowance. She suggested that if she does some chores, she could then start being paid for it. (She already does a couple, but nothing significant.)
I asked her how much she wants weekly for doing chores. She thought a moment and said, "$20-30?".
This kid's going to bankrupt me.
Anyway, the wife and I were thinking more along the lines of $5. Anyone else paying out allowance right now? What's the standard for a 7 year old?
Allowance
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thibodeaux
- Posts: 8056
- Joined: Thu May 20, 2004 7:32 pm
When my kid has something he wants, I print out a grid with approximately as many squares as is the thing he wants. Giant Optimus Prime was a 10x10 grid, smallest I go is about a 5x5 grid.
When he does a chore or some good deed, he gets to block in a square. If he screws up in some way, we erase a filled square.
When the grid is filled, he can get whatever item he wanted.
When he does a chore or some good deed, he gets to block in a square. If he screws up in some way, we erase a filled square.
When the grid is filled, he can get whatever item he wanted.
"Be bold, and mighty forces will come to your aid."
We give our daughter $4/week (She's 4 years old). Half goes directly to her bank account to pay for "big things" (which hasn't happened yet). The other $2 is whatever she wants. Although, we limit her to one item at a time when we go shopping, etc to help introduce her to shopping.
When she turns 5, it'll be $5/week. According to the peeps we asked/talked to, $1/year is standard around these parts.
She does basic chores (cleaning, helping a bit with laundry, dishes, etc), but not the big chores (washing cars, lawn care, etc) since she's too young for it.
When she turns 5, it'll be $5/week. According to the peeps we asked/talked to, $1/year is standard around these parts.
She does basic chores (cleaning, helping a bit with laundry, dishes, etc), but not the big chores (washing cars, lawn care, etc) since she's too young for it.
It's not me, it's someone else.
They ask for an allowance, I start charging room and board.
I know people who actually do have that philosophy.
When my kid has something he wants, I print out a grid with approximately as many squares as is the thing he wants. Giant Optimus Prime was a 10x10 grid, smallest I go is about a 5x5 grid.
When he does a chore or some good deed, he gets to block in a square. If he screws up in some way, we erase a filled square.
When the grid is filled, he can get whatever item he wanted.
We're doing something similar for her, but it's a jar of fake coins, and she gets them based on behavior. There are 144 coins and can only earn 1 a day. At the end, she gets anything she wants, which at this moment is a trip to Kalahari.
According to the peeps we asked/talked to, $1/year is standard around these parts.
I think I like that.
“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
Allowance
We've changed it up a little, as our oldest does NOT like to spend money. We still do $1/year, but we've increased the savings portion, so our 10 yo gets $4 each week, and $6 goes to a UTMA account. We've been investing that UTMA account (along with Christmas monies, etc) on her behalf, and she'll have complete control at the age of 18.
She doesn't spend though, so she's still managed to build a healthy stockpile in her purse, which we're finally forcing her to put into savings or investing, her choice, as a way to try and introduce her to the stock market. She doesn't actually know about the other account (the $6/week one), so I think we'll have to make yet another account to invest these smaller amounts.
*edit* Turns out UTMAs in NC don't have to terminate until the child is 21, so that's the age we're using, not 18.
She doesn't spend though, so she's still managed to build a healthy stockpile in her purse, which we're finally forcing her to put into savings or investing, her choice, as a way to try and introduce her to the stock market. She doesn't actually know about the other account (the $6/week one), so I think we'll have to make yet another account to invest these smaller amounts.
*edit* Turns out UTMAs in NC don't have to terminate until the child is 21, so that's the age we're using, not 18.
It's not me, it's someone else.
Allowance
My nephew is the same way. He got that gene from his aunt.
"... and then I was forced to walk the Trail of Tears." - Elizabeth Warren