Paying Children Allowance

[NewlyMinted]

2 hours ago, CatfishKev said:

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.  

We did this. I created a board and used golf tees to show the balance. Problem was they my kids were savers and then would cash it all in. It was like a run on the bank so I switched to Venmo since it was real cash and if they wanted to drop all their savings on a thing, I wouldn't have to figure out how to honor it.

[thegunsmith2506]

My son is younger but we do cash. He gets a couple dollars a week to feed animals, take out the trash, and other set chores. If he wants to earn more we come up with other chores. We have 2 clips on the freezer with a few $1 bills in each. If a chore doesn't get done we take away a dollar. He gets his money at the end of the week and half goes into savings. I don't like having to tell him to do chores so this system works great. I almost never have to remind him to do a chore. 

[NewlyMinted]

6 minutes ago, thegunsmith2506 said:

My son is younger but we do cash. He gets a couple dollars a week to feed animals, take out the trash, and other set chores. If he wants to earn more we come up with other chores. We have 2 clips on the freezer with a few $1 bills in each. If a chore doesn't get done we take away a dollar. He gets his money at the end of the week and half goes into savings. I don't like having to tell him to do chores so this system works great. I almost never have to remind him to do a chore. 

Yeah, I found that too.. half the hassle was asking them to do the chore. It's almost magic having it happen automatically. They request payment, and I either accept or adjust it based on them doing their stuff.

[Couzer]

I haven’t read this but will be soon

[UggRedBilly]

3 hours ago, Vowell said:

I haven’t read this but will be soon

I love his books! I have read all of them multiple times! Recommended for anyone 10-10! Has great things for children and how to reward them!

[naturebob]

Cash talks. And don't be a tight wad. They will not like You if You have $ and don't share it. .I Love cash. ,So do Kids....................BOB! 

[Non-Typical Solutions]

I remember shelling pecans for 25 cents a quart!!!!! Used that money to buy my BB's..........we had a lot of privileges working on a farm/ranch but if we wanted cash......we had to punch the clock!!!!

[5guyshunting]

25 minutes ago, Non-Typical Solutions said:

I remember shelling pecans for 25 cents a quart!!!!! Used that money to buy my BB's..........we had a lot of privileges working on a farm/ranch but if we wanted cash......we had to punch the clock!!!!

I picked green beans for $2 a bushel and not for my parents.😫

[Delw]

33 minutes ago, 5guyshunting said:

I picked green beans for $2 a bushel and not for my parents.😫

I picked blueberries, cherries and Apples plus worked a part time job. I made bank with blueberries apples and cherries and that was in the mid-late 70's 70-100 bucks a day picking cherries and apples. blue berries were about 40-50 bucks aday, then bucking alfalfa 3 times a year plus moving irrigation sprinklers.

Dad said when I turn 16 your old enough to get a real job so no more allowance, before 16 though we saved did the picking thing and bottles Dad and his buddies drank a ton of beer

did the same deal with our kids, but I was a softy wife wasnt if the kids wanted something I bought it for them, thing is they never wanted anything normal house chores they didnt get paid for.  extra stuff they did. at 15.5 our daughter bought her 1997 tj jeep all cash she saved up. 16 she got a job and worked her butt off always had.

 

[ctafoya]

I never gave my kids an allowance, and I never received one. Everyone was expected to do thier part. They all got jobs when they were old enough and appreciated what they earned. I have one in the navy, one in school to be a teacher, one in school to be a rocket scientist,(seriously) and one is a senior in high school. They have all payed thier way.  They all turned out just fine. They never ask for anything. When I see that they are struggling my wife and I help them out to keep them on thier paths, they have definitely earned it. 

My .02

[AZ_SAWBUCK]

Thanks for all the input. Some great ideas and different opinions here. Kids need to learn how money works first hand. I got some allowance when I was young, not much but enough to give me the taste of $$ and want more. I also got my A$$ to work well before I was able to drive and have always had a job ever since. They need to learn how to spend some and save some,  They also need to learn that some of what they earn is theirs to keep!

Problem we were running into was staying consistent about paying them. That's why I was asking about an app. its 2021 makes sense to me. You could pay them through it or deduct payment if they didn't do the chores, would show % going into savings.....could be a great tool I think. Anyhow after hearing ya'lls input, I'm thinking 50% of their weekly allowance onto Roth or ESA account and the remainder in cash IF the chores get done.

My kids are 8 and 11. I like the idea of them working for other people (I did when I was about their age). Just too many weirdos out there these days to cut them loose just yet. 

Thanks JS 

 

[TOBY]

I remember once a month if i saved my allowance i could go to The Store (real name) and buy a new star wars figure. 3 bucks and change. Pretty sure thats where I got my double telescoping light saber darth vader. Those were the good years when we got it. Regardless we did what we were told allowance or not. My kids never got one. If they needed something that was ridiculously expensive we got it for them. Teach them young..... we had them on stools washing dishes, doing their own laundry, pulling weeds,picking up dog shoot, vacuuming, all the chores all kids should be doing.. if not you are raising kids who wont be able to wipe their own butt as adults. Neither one had an xbox or playstation.

[Outdoor Writer]

9 minutes ago, TOBY said:

I remember once a month if i saved my allowance i could go to The Store (real name) and buy a new star wars figure. 3 bucks and change. Pretty sure thats where I got my double telescoping light saber darth vader. Those were the good years when we got it. Regardless we did what we were told allowance or not. My kids never got one. If they needed something that was ridiculously expensive we got it for them. Teach them young..... we had them on stools washing dishes, doing their own laundry, pulling weeds,picking up dog shoot, vacuuming, all the chores all kids should be doing.. if not you are raising kids who wont be able to wipe their own butt as adults. Neither one had an xbox or playstation.

I'll see your double telescoping light saber darth vader and raise you a Flash Gordon ray gun, circa 1954.