I didn't really get much of an allowance as a kid, but I think it would be a great thing.
Personally, I don't like the idea of an allowance for chores... chores should be accepted as a natural part of one's home life and I have seen what happens to kids who think that they should be rewarded for doing what they are obligated to do anyway. It's not a pretty sight.
I think that an allowance should be given for the sake of teaching monetary responsibility as well as the gratification of savings. A steadily increasing allowance up until the child graduates high school. This will allow them to be able to have a life and go out and do things but learn that if they want something, they are going to have to save their money to buy it. Too many people go out into the world and buy things that they want but don't have the money to afford and I want my kids to break themselves of the habit, naturally by buying things that they want with their "own" money. However, I do think the allowance should be contingent on completion of the chores, just giving them the money regardless of their actions or behaviors may encourage a nasty entitlement mentality "Give it to me because I'm your kid!".
I think that bonuses should be given for good grades as well as awards and outstanding performance. Success should be recognized in some way or the other, anyway.
I have family members who have children which they give money and toys and whatever they want to and those children go out into the real world thinking that they can just get whatever they want and that those dollar signs and digits mean nothing. I think the bottom line is to teach children that money IS an object and that said object can disappear quickly when you're having too much fun.
At what age is too old for an allowance?
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I didn't really get much of an allowance as a kid, but I think it would be a great thing.
Personally, I don't like the idea of an allowance for chores... chores should be accepted as a natural part of one's home life and I have seen what happens to kids who think that they should be rewarded for doing what they are obligated to do anyway. It's not a pretty sight.
I think that an allowance should be given for the sake of teaching monetary responsibility as well as the gratification of savings. A steadily increasing allowance up until the child graduates high school. This will allow them to be able to have a life and go out and do things but learn that if they want something, they are going to have to save their money to buy it. Too many people go out into the world and buy things that they want but don't have the money to afford and I want my kids to break themselves of the habit, naturally by buying things that they want with their "own" money. However, I do think the allowance should be contingent on completion of the chores, just giving them the money regardless of their actions or behaviors may encourage a nasty entitlement mentality "Give it to me because I'm your kid!".
I think that bonuses should be given for good grades as well as awards and outstanding performance. Success should be recognized in some way or the other, anyway.
I have family members who have children which they give money and toys and whatever they want to and those children go out into the real world thinking that they can just get whatever they want and that those dollar signs and digits mean nothing. I think the bottom line is to teach children that money IS an object and that said object can disappear quickly when you're having too much fun.