Comments on: Allowance for kids http://www.fromdatestodiapers.com/allowance-for-kids/ mom blog, christian moms, homeschool moms, kids activities, traveling with kids, cooking with kids, big family Wed, 23 May 2012 04:57:57 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Bill Dwight at FamZoo http://www.fromdatestodiapers.com/allowance-for-kids//comment-page-1#comment-64049 Bill Dwight at FamZoo Mon, 19 Apr 2010 17:43:24 +0000 http://www.fromdatestodiapers.com/?p=4587#comment-64049 I really like the teen guidelines and how the allowance is calculated on a budget that is tied to the things that the teen is expected to pay for. So many parents ask "What is the right amount for an allowance?". There is no absolute right amount. I think your approach is exactly right: (1) figure out what you expect your child to purchase (2) make a budget with your child based on your family's situation (3) set the allowance to match the budget. The one case where we have given "advances" is when a child incurs a large unexpected expense (driving citation, huge cell phone overage charge, parking ticket, etc. - It happens!) In that case, we debit their account so it goes negative (one of the advantages of a Virtual Family Bank) and make them pay it off over time with their allowance. They have to forgo purchases of other items in the meantime. I really like the teen guidelines and how the allowance is calculated on a budget that is tied to the things that the teen is expected to pay for. So many parents ask “What is the right amount for an allowance?”. There is no absolute right amount. I think your approach is exactly right: (1) figure out what you expect your child to purchase (2) make a budget with your child based on your family’s situation (3) set the allowance to match the budget.

The one case where we have given “advances” is when a child incurs a large unexpected expense (driving citation, huge cell phone overage charge, parking ticket, etc. – It happens!) In that case, we debit their account so it goes negative (one of the advantages of a Virtual Family Bank) and make them pay it off over time with their allowance. They have to forgo purchases of other items in the meantime.

]]> By: Val http://www.fromdatestodiapers.com/allowance-for-kids//comment-page-1#comment-46710 Val Sun, 22 Nov 2009 04:45:07 +0000 http://www.fromdatestodiapers.com/?p=4587#comment-46710 I am looking for some tips on allowance, chores, etc. Thanks for providing a lot of good ideas! :) I really enjoy your blog! I am looking for some tips on allowance, chores, etc. Thanks for providing a lot of good ideas! :) I really enjoy your blog!

]]> By: Muthering Heights http://www.fromdatestodiapers.com/allowance-for-kids//comment-page-1#comment-46700 Muthering Heights Sun, 22 Nov 2009 04:27:43 +0000 http://www.fromdatestodiapers.com/?p=4587#comment-46700 My kids are FAR too young for allowance now, but these are great ideas for the future! :) My kids are FAR too young for allowance now, but these are great ideas for the future! :)

]]> By: Adrian http://www.fromdatestodiapers.com/allowance-for-kids//comment-page-1#comment-46691 Adrian Sun, 22 Nov 2009 03:40:37 +0000 http://www.fromdatestodiapers.com/?p=4587#comment-46691 I am terrible about the allowance thing. I do it for a while, then I forget and the kids don't really keep after me about it because I don't make them pay for as much stuff as I should. The problem I have is that I rarely carry cash myself, so I often don't have the money on hand when it's time for allowance. I wish you could do debit cards with 10 year olds. I do get better with my older boys. My DS20 pays for his own insurance, part of his cell phone, most of his clothes, his meals at work (if he chooses not to brown bag it out of our fridge), and all his own gifts. DS28 has been wonderful about money. Married for 5 years, he never asks us for money and both boys are very good about managing their money. So I guess I did something right despite my hit and miss allowance schedule. I am terrible about the allowance thing. I do it for a while, then I forget and the kids don’t really keep after me about it because I don’t make them pay for as much stuff as I should. The problem I have is that I rarely carry cash myself, so I often don’t have the money on hand when it’s time for allowance. I wish you could do debit cards with 10 year olds. I do get better with my older boys. My DS20 pays for his own insurance, part of his cell phone, most of his clothes, his meals at work (if he chooses not to brown bag it out of our fridge), and all his own gifts. DS28 has been wonderful about money. Married for 5 years, he never asks us for money and both boys are very good about managing their money. So I guess I did something right despite my hit and miss allowance schedule.

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