Paying Children Allowance

[AZ_SAWBUCK]

Mornin! 

Looking into different ideas or systems for paying my kids their allowance. Getting cash out and paying them in cash weekly has its advantages and challenges.

Do any of you use Apps or have this electronically set up, pros and cons of doing it that way? 

Thanks in advance for the input. Jason 

  

[Outdoor Writer]

13 minutes ago, AZ_SAWBUCK said:

Mornin! 

Looking into different ideas or systems for paying my kids their allowance. Getting cash out and paying them in cash weekly has its advantages and challenges.

Do any of you use Apps or have this electronically set up, pros and cons of doing it that way? 

Thanks in advance for the input. Jason 

  

Apps?? What's next...having the tooth fairy deliver via Uber?? 🤣

[stanley]

I guess for me it would depend on how old they are & how much money you are talking about.   For younger kids with a small allowance, seems like cash is good.  As they get older and have bank accounts with debit cards, an electronic app seems to make sense to me.

My ex-wife and I have used Venmo to move money around between each other and our college aged kids for quite a while.  Seems to work just fine.  The one challenge can be a delay in funds availability, but that depends on how you have it set-up. 

Good luck!

[kbaizel]

Dam kids get allowances now.  I had to mow yards and shovel gravel growing up to get my allowance.  Dam kids have it easy now.

[ThomC]

No, kids have to look forward to a country going to hekk.  The Dumbs are totally in charge.

[Saguaro]

I don’t know what the best thing to do is.  I never got an allowance, but I’m not going to say my parents didn’t help me out.  My dad always carried cash.  If I needed money, I would ask for it.  He almost always said no.  I guess it was training to not become spoiled.  My mom would almost always give me money.  I remember him one time fighting with her because she gave me one dollar to buy Garbage Pail kids cards after he told me no.  He said “I can’t be given what I want all the time”.  All of us kids started a part tome job when we were 16 and we could do whatever we want.  Still, my parents helped out with  vehicles, insurance and things like that.

[CatfishKev]

One of my customers had a poster board with clothes pins holding money attached to certain jobs, floors, dishes etc.

Also check out family do dots. It's kind of pricey though but once it's set up it should be pretty easy.  We ended up getting the do dots but haven't got it set up yet.  

[bigorange]

My kids have checking and savings accounts...we do electronic transfers into their accounts (1/2 into checking and 1/2 into savings) and let them spend from checking within reason. Works for us...may change when they get a little older and are driving, etc. 

[stanley]

1 hour ago, kbaizel said:

Dam kids get allowances now.  I had to mow yards and shovel gravel growing up to get my allowance.  Dam kids have it easy now.

My kids earned every penny of allowance they ever got.  No hand-outs, free pass, or easy ride....

[Flatlander]

I pay my kids a set amount for each chore. Paid in cash at time of services rendered. Mostly singles right now but might change that now that my daughter is getting older. Don’t want to condition her to chasing singles.

[kbaizel]

I have a friend that gives his kid everything he ask for.  The kid now is 22 and is useless as heck.  That is most of the problem with young adults this day.

[STOMP442]

My allowance was a roof over my head, a bed to sleep in and food on the table. We used to live out in the boonies and I would mow the lawns of the two older ladies on the walk home from the bus stop once a week. The first one would give me 5 bucks and the 2nd would give me a cold Dr. Pepper. Those were the days. 

[trphyhntr]

I didn’t have to do much for chores but if I asked to get paid to do them, I would have been promptly killed. 

[firstcoueswas80]

4 hours ago, stanley said:

I guess for me it would depend on how old they are & how much money you are talking about.   For younger kids with a small allowance, seems like cash is good.  As they get older and have bank accounts with debit cards, an electronic app seems to make sense to me.

My ex-wife and I have used Venmo to move money around between each other and our college aged kids for quite a while.  Seems to work just fine.  The one challenge can be a delay in funds availability, but that depends on how you have it set-up. 

Good luck!

With paypal and venmo, instant transfer is available for a nominal fee. 

[NewlyMinted]

I set up each of my kids with a Venmo account and I have Venmo. So they could transfer real money to me when they wanted to buy something, or if they needed cash.

It works really well because their friends have venmo and the kids swap money all the time.

It's free, transferring money to and from each other is free, and if you need to add money from your bank its free. Works amazingly well and my kids know what dollars are worth. Venmo is completely free for transferring between venmo account and and for the bank transfer.