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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.
This is a hard question!
When I was very little, maybe only five years old, my weekly allowance was a nickel. My family took a trip cross-country to visit my mom’s sister and her family. I was hanging out with cousins when the topic of allowance came up. They told me they got a quarter each week. I was so outraged and shocked, that memory has stuck with me all my life. I asked my parents why I only got a nickel. I don’t remember their answer, it must have been unconvincing.
Today, with three teenagers, I give them $10 each a week, with which they buy anything I won’t buy for them, such as going out with friends after school, zines or music or video games, clothes or books beyond what I might buy for school, etc. It’s enough to participate in teen culture to some degree, but not enough to let them feel like they won’t be needing a part-time job someday soon.
Of course this money comes with mini-lectures on fiat currency, inflation, minimum wage, the cost of college and apartments, defining poverty in absolute or relative terms, any and everything I can think of where they can consider their privileged place in the world, how many weeks at $10 a week it’ll take to get things, and how the purchasing power of cash degrades over time.
Bet your discussions are a lot of fun with three on one – sheesh, go ask Dad.