Allowances

August 1, 2006

I’m just curious as to how those of you with older kids handle allowances. How old were your kids when they started getting an allowance? How much is/was their allowance? What chores do they have to do for their allowance (assuming the allowance is tied to chores), and is the allowance withheld if chores are not completed? Do you alternate their chores weekly or monthly, or just keep to a set scheme? Do you insist on a savings plan (perhaps an employer matching scheme?), or let them spend it freely?

I know it’s past time to start my seven-year-old son on a chores/allowance program, and I know my younger son will want to be in on anything his brother is doing. It’s a little complicated though, since we are fortunate to have a nanny who handles the cleaning, as well as feeding the pets. She’s here four days a week, so I guess I could emphasize chores on days she’s not here. At any rate, any ideas would be helpful.