Comments on: Allowances http://www.parentingbytrialanderror.com/2008/06/18/allowances/ flexibility in raising kids Mon, 30 Jan 2012 06:05:01 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Kathy http://www.parentingbytrialanderror.com/2008/06/18/allowances/comment-page-1/#comment-54 Kathy Wed, 09 Jul 2008 03:45:16 +0000 http://parentingbytrialanderror.wordpress.com/?p=57#comment-54 My kids aren't old enough to understand the concept of money just yet, but we're working on it. However, I already have a plan for what we're going to do -- I don't like the idea of an allowance. I want them to earn their money -- a kiddie version of real life. :-) There will be things they have to do just because (like keep their rooms cleaned), but there will be other chores they can choose to do if they want to earn money. Once they earn the money, then I plan on teaching them to give some, save some, and spend some. My kids aren’t old enough to understand the concept of money just yet, but we’re working on it. However, I already have a plan for what we’re going to do — I don’t like the idea of an allowance. I want them to earn their money — a kiddie version of real life. :-) There will be things they have to do just because (like keep their rooms cleaned), but there will be other chores they can choose to do if they want to earn money. Once they earn the money, then I plan on teaching them to give some, save some, and spend some.

]]> By: Gretchen http://www.parentingbytrialanderror.com/2008/06/18/allowances/comment-page-1/#comment-55 Gretchen Wed, 25 Jun 2008 19:10:28 +0000 http://parentingbytrialanderror.wordpress.com/?p=57#comment-55 That IS a great idea. I started giving Kate $1 a week in quarters. She was supposed to give 25 cents for chapel offering, 25 cents for savings, and 50 cents to spend, but eventually the preschool stopped sending offering envelopes home and I kept forgetting to give her the money. And it died out for lack of interest on all sides. It's just easier to buy her stuff, but I feel like I should have a little more energy and teach her some basic financial stuff one of these days. Maybe I'll look into the checking account idea in a few years. That IS a great idea. I started giving Kate $1 a week in quarters. She was supposed to give 25 cents for chapel offering, 25 cents for savings, and 50 cents to spend, but eventually the preschool stopped sending offering envelopes home and I kept forgetting to give her the money. And it died out for lack of interest on all sides. It’s just easier to buy her stuff, but I feel like I should have a little more energy and teach her some basic financial stuff one of these days. Maybe I’ll look into the checking account idea in a few years.

]]> By: Sarah Ludwig Rausch http://www.parentingbytrialanderror.com/2008/06/18/allowances/comment-page-1/#comment-56 Sarah Ludwig Rausch Sat, 21 Jun 2008 13:22:30 +0000 http://parentingbytrialanderror.wordpress.com/?p=57#comment-56 That's a great idea, Joyce! My daughters actually already have savings accounts, so maybe I should look into that for them. Thanks! Sarah That’s a great idea, Joyce! My daughters actually already have savings accounts, so maybe I should look into that for them.

Thanks!

Sarah

]]> By: Joyce http://www.parentingbytrialanderror.com/2008/06/18/allowances/comment-page-1/#comment-57 Joyce Sat, 21 Jun 2008 12:11:51 +0000 http://parentingbytrialanderror.wordpress.com/?p=57#comment-57 I had the same problem of always forgetting to pay allowance, so about a year ago, I set up a free kid's checking account with my bank and started using automatic deposits. My daughter likes to see the interest accrue, even if it's just 12 cents at a time! I had the same problem of always forgetting to pay allowance, so about a year ago, I set up a free kid’s checking account with my bank and started using automatic deposits. My daughter likes to see the interest accrue, even if it’s just 12 cents at a time!

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