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Do you give your child an Allowance?

posted 8 years 2 weeks ago
Are you giving or planning to give your child an allowance? Why or why not?

My husband wants to give our son an allowance. But I feel it might not be necessary. He is very loose with money and I am much more tight. I was never given an allowance and I started working part time at 13. I appreciated and saved everything I earned. But my husband is more of a spender and was more provided for growing up. So I don't know if I'm thinking being given free money leads to spending? Maybe I'm wrong. But I just want to teach my child to save, not spend.

What are your views on allowance?

posted 8 years 2 weeks ago
I don't give my children an allowance. I did get one when I was a kid. I got 20 dollars a week for basically keeping my room clean. I honestly don't have enough extra money to give it away like that! I have tried giving them an allowance to help around the house but it seems that I don't give them enough in their opinions.

I wouldn't say giving your kids an allowance is going to make them into spenders though. Maybe you could set something up to where they put back a certain amount of the allowance you do give in savings? They will have their money to spend but still be learning how to save.

posted 8 years 2 weeks ago
I think what I plan to do is give my child an allowance, of which a portion we will "keep" to put in her bank account for savings, and give her a portion to spend. I think that's probably about the most realistic and real world type scenario - she will be expected to help out with chores around the house for the allowance, but I definitely want her to understand that saving for a rainy day is important! I also want her to really understand the difference between "wants" and "needs" when it comes to buying things!

posted 7 years 11 months ago
Allowance is totally okay If given genuinely. However, a child should understand where it comes from and what it truly means to you and him. I was given some allowance even after reaching 21, as I was struggling while pursuing my dream. Eventually, I succeeded. I guess it would have never been real If the relationships in my family weren't built on mutual trust.
However, I understand you. We must make our children understand what it takes to earn money and to respect one's labor.
That's why the best option would be: 50% allowance, 50% his/her own earnings.

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