I had chores and an allowance most of my childhood
I like to think I'm decent with money and budgeting, and I always had an allowance as a kid. When I was super young I got I think $5-10 a week for getting things done, but I remember feeling dissatisfied with that amount, so I drew up a contract listing each individual chore and the price for each... I then had both of my parents sign it, lol. I don't think it lasted long, to be honest, but I was always proud of that. My first taste of 'doing business,' haha.
In all seriousness, I do think it is important to teach kids how to work with money, and though not the only way, I think an allowance is a great way to do that. I think learning to save and budget is pretty valuable in adult life, but it is a skill that usually takes time to refine. I would even go so far as to give my kids their lunch money and spending money together and let them learn to budget that way... When you realize you have to save that money to eat with instead of blowing it all on something silly, it makes you rethink. I think that's a very adult thing to deal with.
I remember in high school when I had my lunch money and some spending money in a lump sum. Our cafeteria offered normal, healthy (-ish) lunch for about $2, or you could buy a pizza and a powerade for $5-6. I always watched my friends in the pizza line and thought, no... This is silly. I could buy so much cooler stuff and save the calories with that extra three or four dollars a day. The same with the junkfood snack machines... No thanks, I'll take a reusable water bottle from home.
I think the same sort of thinking has carried over into my adult life. I don't mind to splurge on things I really want, but I like to think I'm pretty responsible with funds. I directly attribute this to having an allowance most all my life, and so will most likely carry the tradition on with my own children.
What about you ladies?
Do your kids get an allowance?
Why or why not?
If so, what age do you start giving them one?