Allowance...the Hubby and I have had lots of conversations over this word.
We have come to a realization and that it is our job as parents to teach our children the importance of money.
How to save it.
How to spend it.
How to give to the church.
We have decided to not use the word allowance...but COMMISSION.
HA...we are the mean parents!
Here is our thought process...
there are jobs that we think that the kiddos should do without getting paid...
daily chores.
Then there are the chores that we want them to do to really help out around the house.
Weekly chores, so that they will learn responsibility.
We read that you should give the kiddo 1/2 of their age for their "commission."
So...my 10 year old will do 5 jobs (at $1 each) to earn $5.
If she doesn't want to do them that week...she doesn't earn the money.
Some of the weekly chores will stay the same, but others will change each week, depending on what needs to be done.
I used an old window and a dry erase marker so that I could change them easily.
The K E and A are my kiddos initials.
I am hoping this chore chart, the "commission" and teaching our kiddos about money is effective.
Do you have any suggestions?
How do you teach this valuable lesson?
2 comments:
We put our kids' allowance on a debit card... makes it much easier to pay them, and then they can take the card when they go out, or they can use it online. For the older kids, we have set up teen checking accounts, so that the kids can use the debit cards at an ATM, and get cash. We use USAA, as they don't charge any fees.
When we did allowance with cash, we had a rule that if you left your $ lying around the house, mom or dad could pocket it.
Your system looks a little complicated. I agree with the concept of daily chores. For weekly chores, we have a rotating "centers"-- like laundry, kitchen, trash & recycling, garden. Each week, kids rotate working with a parent on each center. They have that center for the entire week.
such fun parenting ideas, amy! i have always admired the way you and your hubby have raised your kids! i look forward to the day when we are parents and i pray that we will be as influential and effective as you guys are! you are an amazing role model! love you!!
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