money, money

(Dear faithful reader, I have a question for you at the end of this post – I’d love to hear your thoughts!)

Lyd has been really into money lately.  She loves to count the handful of coins in her piggy bank, and she likes the idea of having money to spend.  The girls and I took a walk around our neighborhood on Sunday afternoon, and we discovered two young boys selling a few of their toys on the sidewalk, trying to earn money for ice cream.  (I’m sure there was a story behind that!  :))  Anyway, there’s a toy, a large plush flower, that one of the boys encourages Lyd to buy, with some rudimentary salesman skills.  We didn’t have any money with us, but the boy insists that he’ll sell this flower to Lyd for one penny.  (Apparently his rudimentary salesman skills need work!)

Lyd asks me if she could use her money to buy it, and I say yes.  So, after we finish our walk, she gets her money, we walk back to the boys’ house, and she buys the flower.  However, I make her give him more than a penny; she gives him a dime, too.  The boys had given Jujubee a Cheerios book for free, so I give Jujubee a dime to give to the boys for the book, too.  The boys seemed very happy with their sale, as are the girls.

JJ is in Las Vegas right now for pastors’ conference.  Tonight I was explaining to Lyd what Las Vegas is famous for, and as part of that, I explained gambling to her.  I told her gambling was playing games for money.  “Oh!  Can I do that?” she instantly said.  She wants money.  🙂

It’s interesting, because I have been thinking for a while about starting her on some kind of allowance, but I’m not sure how to do it.  I have a few ideas, but I’m not quite sure what would be best.  I did not have an allowance growing up, so I can’t draw from my own childhood experience.

So, if you, dear reader, would be so kind, I’d love to hear what YOU do with your children.  Do you give them an allowance?  How much?  How often?  And how old were they when you started?

Thanks so much!

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4 thoughts on “money, money

  1. We haven’t really come to a consensus on allowances, but right now I give the kids a check mark each morning that they are all ready for school on time and each night when they are all ready for bed on time. If they get 8 or more out of the 10 for the week, then they earn $1 that can be used for buying a book through the Scholastic book orders that come home from school each month. It is a start to teaching them to earn money, and then to making decisions on how to spend that money.

  2. We don’t give money “just for breathing” (what I think of when I hear “allowance”), or for regular household chores (I think kids should learn that there are things you do just because you’re part of a family, and you show love by serving others without remuneration), but we do “contract” for extra jobs the kids do – vaccuum out the car, rake pine needles, move rocks (we redid our gardens this summer – the kids got $1 for every five-gallon bucket of rocks they moved for us. They earned that money!) 🙂
    This was very motivational for the 9 and 10 year olds (Hannah made over $20!) I think the younger kids just pitched in because they wanted to be like the big kids (the 7 year old only did a bucket or two before she got bored)
    We do require that they finish their normal household chores before they can do the “special” jobs, so they don’t spend all of their time doing the lucrative stuff and leave the house a wreck!
    We’ve found this to work out pretty well (although sometimes we can’t think of enough jobs to do to satisfy their entrepreneurial
    spirit!) 🙂

  3. I never had an allowance but our “jobs” around the house were given a value we had laminated chart which we put x’s on the jobs we completed. Saturdays were paydays and we had a certain percentage that went to church, savings and spending. We also had a “job jar” of miscellaneous jobs so if we wanted extra money we could do some of those too. I think we started about age 5 or so.

    I don’t want my children to think I owe them something for every single time they help out so I try to pay them only for certain jobs. Other jobs just are because you live here too 🙂 I didn’t earn real money until I started babysitting jobs about 6th grade.

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