So, after much discussion, Andy and I have instituted an allowance with the boys. I grew up without one because my parents believed in the fact that they would not pay us to do chores. After discussion, and listening to Dave Ramsey, we decided to give this a shot.
Monday night, we sat with the boys and explained our expectations. They would each be getting a certain amount (each different because of their ages), and they, in turn, would be splitting their allowance into 3 parts: Church, Spend/Save, and Bank. We also came up with a chore list of what they were expected to do. They also could earn bonus for doing things like matching socks (yay, me!). They also were made aware that we could reduce the amount for chores not done or for not being kind.
Each of our boys had a different reaction. Michael kind of gets it. Peter was psyched about it. Drew, on the other hand, was a bit disgruntled that he would have to do chores (mind you, he has always done them, but now it is on paper!).
So, tomorrow is the first pay day. Peter keeps doing extras to try and earn more. I did explain that there was a cap to the bonus, that sometimes we do things just because. He informed that he knew that and just wanted to be a help (sweet boy!).
So, that is the basic plan! I am sure I will have some great stories about this as we work out the kinks.
Do you do allowances with your kids? How do you make your system work?
9 comments:
We started the same type of system a few months ago with the girls. I think it is important that they learn to give to others at a young age, and that they also learn to save in the bank and save for things that they would really like. We also do deals where they need to save up half for an item that they want and we will meet the other half if they have completed certain tasks for a set amount of time.
We have every day chores that are done because they need to be done. We have money chores, these are the chores they can do to earn money, and then we have just because Mommy needs help chores.
Each child has the chance to earn up to $1 per day on the MONEY chores ONLY! Failure to do a chore results in less pay. In a two week pay period they have a chance to earn $14 each. We on average pay them about $7 for each 2 weeks. That's goes to show they don't always do "money chores".
The money chores are things that would be nice if they were combing the 1/2 acre yard for dog poop and removing it. However they aren't chores that must be done to run the house hold smoothly. Those things are the every day and help mommy chores. Those chores do not earn money.
I like Dave Ramsey, but there are a few points on which my husband and I disagree with him ~ allowance being one of them.
We don't pay the kids to contribute to the household. They are part of the family, they help. No one pays my husband or me to do household things and we believe it is what you do in a family (I don't pay for babysitting, either.)
We do pay for "above and beyond" things that are not part of the everyday type of home upkeep, occasionally. (an example might be to go through the little one's dresser and remove all winter clothing or even fold mom's clothes if I'm feeling too overwhelmed to get to it myself.)
We provide everything they need. We also provide entertainment/spending money from time to time when they ask to go to a movie or skating or whatever. When it is a reasonable request and it is in the budget, we give them some of what they want.
They handle money when they get old enough to babysit or get a job. That's soon enough for us.
We got paid for chores too. We didn't have the option to do more and earn more tho. Bird's parents did it only on a pay by what you do basis. He was always willing to wash a car or mow the lawn for a little added cash. I'm told his sister didn't. To each his or her own. I look forward to those days and am enjoying the fact that Yaya is at a place where she just loves to help.
Today, I am agreeing mostly with becomewhatyouare. Jobs within the family that keep the machine oiled and running should not be paid for.
Extra jobs like extra credit is where the rewards come from.
I do agree with the splitting the money into three categories.
10% to the Church
45% into the pocket
45% into savings
If they are going to have an allowance, they also need to know that when they want something from the store, it is to come from their pocket money, never the grocery or family money and NEVER from the Church or savings money. If it is something big, they need to save their pocket money for it. Again, they should not be allowed to dip into the savings at all. This should be a set aside for college or a car.
That is Gramma's wisdom for today:)
my three year old does not receive an allowance. I'm interested to know others' opinions on whether she is at the right age to start. I just figured she's too young, but maybe not. but what I love about your allowance is that the children are to tithe to the church. that is so wonderful!
I'm interested to hear how things go. I also enjoyed reading the comments.
I actually do the Dave Ramsey commission plan similar to you. Now, their room and basics never count as those are things they do to get to live rent free. I heard Will Smith once say on Oprah that he tells his children that they have to do basics like that to cover their rent as they do not pay the mortgage, so we adopted that quite some time ago. My boys are on the plan, but the baby is too young, of course. It goes well some weeks and others not so well. We do not include making bed or putting laundry away or things like that as those are expected for "rent" ;-) The boys are in charge of recycling and trash each week as well as maintaining a clean "work environment" - aka picking up toys. They look at these as jobs that they get paid to do. We do not give bonuses, but we do have the right to not pay them on a day that they choose to "not show up for work." We also allow for exceptions when we see random acts of kindness. The children are paid up front for those and it's normally a quarter. The both can earn up to $5 a week total, but we average 2-3. Alec saved up to purchase a DSi and Owen a Didj just recently. I've honestly never seen them take care of their objects as well as they do these big purchases that they have made on their own. Keep up the good work! Can't wait to hear how it goes with your family.
I ended up building an online "Virtual Family Bank" for our family of 7 to simplify the allowance tracking, splitting between accounts like Church/Pocket/Savings (or however you'd like to split), doing informal loans to my teens for big ticket items, etc. It's available to all now at FamZoo.com and you can see it in action via our quick videos here:
http://www.youtube.com/user/famzoodotcom
Cheers,
Bill
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