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Author: ishtarastarte Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 6776  
Subject: Re: teaching kids value Date: 3/6/2009 12:20 AM
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I am not a big fan of allowance on a regular basis.

There are certain things that are basic, that C must do, as a member of the family, to keep the household running. That is independent of the allowance.

The allowance is for her to learn to manage money. It started out at $1/week when she was in kindergarten. It stopped for awhile when we were really having a bad time.

Now, she gets $12/wk (she's 13). She has to use it to buy magazines, make-up, razor blades (she wants a fancy razor, so the cost is on her), gum, candy, soda, itunes, movies, lunch at school, etc.

She can earn extra money by doing extra chores without being told, or doing things for friends and neighbors.

Last year, she saved up enough to buy an ipod, and she treats it as if it were made of gold, because it took her months to save up for it.

My feeling is that she needs to start learning to manage an income now, so that she isn't struggling to learn it in a couple of years when she is working.

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