Friday, October 2, 2009
Allowance
How many people give their kids allowance? What age do you start? Do you make them do chores to get it? Do you make them save it for the future or spend it on a toy? It's hard to decide when they are ready or understand the idea of it. If my kids are good in the store while grocery shopping I allow them to have $10.00 for a toy (every other week). My kids are still small and do not understand money too much. They do help me around the house and clean their rooms daily so I feel they deserve something! I have made them each a savings account for the future but I would like them to not know about it until they are adults! Once they understand money more I might give them a weekly allowance. I like the idea of making them save some of it, but not until they understand. I am horrible at saving money and hope my kids don't take after me. If there is a dollar in my pocket I have to spend it on something. Lotto ticket!! Mountain Dew! Snickers!
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I was wondering the same thing. I try to explain money with very simple terms to Ethan now. Example- We were in Merrillville at the mall. We got him two "Cars" cars from the Disney store. When we left he wanted to ride the carousel. I explained that since he already spent 'his' money at the Disney store he could not spend money on the carousel. He actually understood and said, "Ok mommy, I bought cars so now I can't ride the carousel." I'm going to work with that idea for a while and possibly start doing an allowance-ish thing MAYBE when he turns 3. For now we just talk about money. At the store sometimes he will want to buy a big toy and I will tell him "That one costs more money than what you have right now, let's find another one to look at", so he is at least understanding that some things cost more than other things do.
ReplyDeleteYesterday I bought a cash register at Target for Addison. It has 2 $10's, 2 $5's 2 $1's, .25, .10, .5 and a debt card. We were playing store and I would tell Addison to make sure and look at the sale items... they were only $5.99. :-) I think that's the way I can start teaching her about money. We played store for about 45 minutes and I had to quit... and now all this morning she has wanted to play!
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