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What Is the Right Allowance Amount?
An allowance is money given to a child because they are your child. It is not based on chores done or not done, but not contributing can see the allowance suspended until things get back on track. Even at this rate, what is the right amount of allowance to give to a child? Here are some suggestions.
Consider the age of your child. A seven or eight year old is not into clothing and shoes with enough interest to want to own a tremendous wardrobe. Money is mostly for teaching purposes, and fifty cents to a dollar is enough at this age. The most that kids will want is a small toy or a piece of candy. There can be weekly or monthly trips to the dollar store so they can use their money to buy items they want.
As kids approach the older elementary ages, they are usually interested in sports and looking good. As parents, we buy their clothing and other necessities for school and home. Anything that they want above that can be purchased with their allowance money. The allowance can be raised to three dollars a week.
Outside of the basic necessities, kids don't need too much. They may see a new video game, but they can save their allowance to purchase it. Depending on the price of the game, they may need a month or two to save the money for it.
As the kids reach the tween years, five dollars a week is a healthy amount. It is enough to go and see a movie with friends. If they want any refreshments, they'll have to save two weeks allowance. You are still buying their school clothes, so their money will be reserved for time spent with friends or personal wants.
Teenagers who are not old enough to have jobs need a little more than five dollars. They are becoming social butterflies who want to spread their wings. Money can be saved for a new pair of shoes or going out on a date with someone they like. Ten to twenty dollars a week is good for them. Once they get a job the allowance can be stopped in favor of earned income.
With an allowance come the responsibilities of being a part of a family. There will be chores that are required for kids to do around the house because they live there. These chores are not for additional money, but a non-negotiable duty.
Younger children can be responsible for picking up their toys after a play session. The toys are small enough that they can pick them up. Clap and smile to assure them that they are doing a good job.
The chores increase in number and difficulty as the child gets older. Older youngsters can load and unload the dishwasher and keep their rooms clean. If you have boys this will likely be the single most frustrating chore for you and for them. They usually don't like to be neat and most moms can't stand a messy room.
By the time they are teenagers, the chores are more involved. Teens can take out the trash, vacuum the floors, and clean their bathrooms. If your teen has a job, the chores can be spread out to accommodate their work schedule, but it is still a family responsibility to perform them.
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