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?

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    04/07/14
    Comment deleted
      04/07/14
      I believe it is extremely important to teach children the responsibility of work and of money. Children that are given everything without having to work for it suffer in the long run. Having chores or duties is always going to be a part of life. Knowing how to take your "pay" and save to get the things you want or need is crucial. It is also more satisfying to say "I worked 10 hours for that" . It also allows the feeling that "things" are not disposable.
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        04/07/14
        My kid doesn't currently get an allowance, but she's 2, lol! When I was about 7 or 8, my siblings and I would get an allowance (like $5 a week for me), but once my mom started dating my stepdad, it suddenly ended, and we never got one again. I don't know if we will give an allowance or not at this point.
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          04/08/14
          My son loves to clean if it doesnt involve cleaning his room. We have since taught the younger one to clean up after herself which is really cute. At clean-up time both are doing it. For my son when he does extra cleaning he gets $$ but with him being 4 its usually about a quarter or 2 depending on what he does. He loves putting it in his piggy bank and reminding us he is saving it for something big. I dont want him to think doing something he has to do like clean his room deserves money but since he likes doing dishes ( of course daddy always goes back over them) he gets a quarter for the days he does those and if he picks up trash all through the house ( sister likes to tear up EVERYTHING) he gets a quarter for days he does that. It seems to work for us. Allowance i dont know if we will do.
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          About Cassaundra Owens
          Birth: February 13
          On Moms.com since: Oct 11, 2013
          I'm a little strange, pretty green, and learning to live life as a wife, future mother, and entrepreneur. Right now, my husband and I are trying for our first after 3.5 years of infertility and 2 losses. Viva la adventure! Join me too at MortalMommy.com!