Children should not receive “allowances”. They need to be taught the relationship between labor and reward. Pay them fair wages for labor rendered. Then teach them what to do with it.
I never received an allowance and neither did my children. Not that they we didn’t buy them what they wanted occasionally, but for the most part they earned their money.
I got a few bucks a week as a lad (age 7-11ish) which was great – I’d ride my bike to the local convenience or drug store and buy my favorite 60-cent candy bar (this was the mid-late 90s) or a pack of baseball cards on a special occasion.
It’s funny to recall those days because I was nearly the same way when it came to money as I am now. I’d carefully choose which treat to buy, then I was sure to enjoy it once I bought it. Although I never saved anything.
Anyway – indexed for inflation, about $5/week would be the same amount today. Seems fair for a youngster.
Mike, when I was 7-11ish, that 60-cent candy bar cost me a nickel. I earned that nickel and whatever else I could get. Most of that “whatever else” came from raising tobacco (with my uncle’s supervision). Now there’s a job that earned every cent from really, really hard work.
Children should not receive “allowances”. They need to be taught the relationship between labor and reward. Pay them fair wages for labor rendered. Then teach them what to do with it.
What they need to give themselves some independence and learn to manage it and not what they want.
I never received an allowance and neither did my children. Not that they we didn’t buy them what they wanted occasionally, but for the most part they earned their money.
I got a few bucks a week as a lad (age 7-11ish) which was great – I’d ride my bike to the local convenience or drug store and buy my favorite 60-cent candy bar (this was the mid-late 90s) or a pack of baseball cards on a special occasion.
It’s funny to recall those days because I was nearly the same way when it came to money as I am now. I’d carefully choose which treat to buy, then I was sure to enjoy it once I bought it. Although I never saved anything.
Anyway – indexed for inflation, about $5/week would be the same amount today. Seems fair for a youngster.
Mike, when I was 7-11ish, that 60-cent candy bar cost me a nickel. I earned that nickel and whatever else I could get. Most of that “whatever else” came from raising tobacco (with my uncle’s supervision). Now there’s a job that
earned every cent from really, really hard work.