Monday, October 18, 2010

Allowance, Schmollowance...

We have never really done allowances with the kids least consistently. If they needed something we just bought it of course and if they wanted something well it would just depend what it was, how much it was, etc. Unfortunately, the answer most of the time was"no" or "wait", neither of them a bad word, but it got old saying it and I know for them it got old hearing it.

See, when you have four children and you are a fair parent, as we try to be, one $5 little gadget that isn't anything much, turns into $20 and four little gadgets that aren't anything much. If you buy for one, you can't help but buy for all.

I am not trying to brag, but we have pretty well behaved children, they do any chores we ask, and more often than not it is without any whining. I know, right? Blessed we are.

OK, ok back to the whole allowance thing..Brian and I had come to the conclusion that in order to keep our sanity while at a store and to keep from being nickeled and dimed to death, allowances are going to be necessary. I had been reading a thread on a mom's forum I go to regularly about allowances and how different families determine the amount each child receives, so we decided to go with "half their age + $2". Got it? Make any cents sense?

So here is how it goes:

Oldest daughter is 11, she receives $7.50 (half of 11 = $5.50 + $2= $7.50)
Middle daughter is 8, she receives $6 (half of 8 = $4 + $2 = $6)
Son is 6, he receives $5 (half of 6 = $3 + $2 = $5)
Youngest daughter is 3 and she receives $3.50 (half of 3 = $1.50 + $2 = $3.50)

I like this method because they can see that age has its privilege and they know that with each birthday their allowance will increase.

I also like it because I can take them to the store with me now without having to give the "don't ask for anything, we are just running in to get a couple of things, we don't have time to look at toys, I know you just want to look, but really we can't buy anything" speech. They have their own money, to give, to spend and/or to save.

Here goes to teaching some financial responsibility (or at least try)!!!

BTW, we will still provide all their needs, I promise!

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