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RE: Children and Pocket Money - 8/5/2008 6:45:13 PM
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nicole6598
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From: Australia
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Monica that's what I was thinking of doing, giving a dollar for each year they get older. I am thinking I will start when she is 4 at the end of the year.
Thanks!
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RE: Children and Pocket Money - 8/5/2008 7:31:55 PM
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peculiar_lady2
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quote:
ORIGINAL: nicole6598
Monica that's what I was thinking of doing, giving a dollar for each year they get older. I am thinking I will start when she is 4 at the end of the year.
Thanks!
my parents did a dollar for every year and given every payday, not every week (my parents got paid every two weeks)
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RE: Children and Pocket Money - 8/5/2008 7:49:08 PM
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nicole6598
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We get paid weekly, so we would do it every week I think.
How much do you pay your kids Sarah?
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RE: Children and Pocket Money - 8/5/2008 8:01:17 PM
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peculiar_lady2
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quote:
ORIGINAL: nicole6598
We get paid weekly, so we would do it every week I think.
How much do you pay your kids Sarah?
we don't really pay them at this time. We give them money at the store if they are buying something....and they can keep any amount they find doing chores. We are going to start with the older three for sure though, as soon as I make their banks. I can't really find what I want so I am going to make plastic canvas and yarn "banks" for them (with three sections). Once I get that done (started it last week) then we will do every pay day whatever their age is. We get paid twice a month...1st and 15th...so that works out to a good amount for them
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RE: Children and Pocket Money - 8/5/2008 8:09:28 PM
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nicole6598
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oohhh ok, if Grace wants something I just buy it, I mean lollies etc not big items, she knows they come at birthday and Christmas. I buy her the odd book etc but I want to sort out with hubby how we are going to do it and prepare what I want to say to her etc before I start giving her money. although they need to take an offering to childrens church, so I will give her some money this week to take and put in when she goes.
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RE: Children and Pocket Money - 8/5/2008 8:32:07 PM
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peculiar_lady2
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quote:
ORIGINAL: nicole6598
oohhh ok, if Grace wants something I just buy it, I mean lollies etc not big items, she knows they come at birthday and Christmas. I buy her the odd book etc but I want to sort out with hubby how we are going to do it and prepare what I want to say to her etc before I start giving her money.
yeah....we really didn't hit it too much at that age, just gave them what they needed to buy things when they were in the store. My older two are studying money more in school now though, so that's why we wanted to start with doing that with them now.
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RE: Children and Pocket Money - 8/6/2008 1:45:26 PM
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twoboys
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Love the idea of splitting it up between spending and saving and tithing. Thanks!
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Courtney
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RE: Children and Pocket Money - 8/11/2008 11:33:07 AM
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ColoradoLady36
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Yuppers, you guys hit the nail on the head. I don't tie money to chores either. We all live in the same home, so it is all of our responsibilities to work on it together. Now if they go above and beyond, then yes there will be some exchange of money. One that works well for me is "whoever finds mommies keys, gets a dollar". I am a divorced mother with 3, and at ages 12, 8 and 8, you should see them scatter..lol. Kind of cute actually. My son rocks, because he likes to clean out the van, aka my mommy missile. He knows that he will get money for that. It works out well for us.
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RE: Children and Pocket Money - 8/11/2008 11:42:53 AM
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zoebob
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From: land of limbo
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I can't imagine giving my kids $1/year every time I get paid. I get paid 3X a month: twice pay and once support. That would be $90/month. That's more than I pay for car/renters insurance. Actually it's about twice what I pay for that.
ETA: I would like $36 a month of mad money for myself which is what my eldest would get if I did that. I've never had that much. Even if you take out 10% for tithe and 10% for saving I've never had that much.
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RE: Children and Pocket Money - 8/12/2008 1:02:26 PM
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peculiar_lady2
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quote:
The only time $$ would be taken out would be is if it made sense to do for. For example - instead of nagging a 9 yr old constantly to clean her room I would say "I want your room cleaned by x." If it was not done I would "hire" another sibling to clean the room and pay for it out of the 9 yr old's allowance. Pretty much like real life. I can wash my car myself, or I can hire someone else to do it for me. I can clean my house myself, or I can hire a maid. Etc, etc.
 I like that idea!!!! Thanks...have to tell hubby about that one!!!!
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RE: Children and Pocket Money - 8/13/2008 6:09:50 AM
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nicole6598
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Tammy I like that idea too.
LOL at the story of the dad who took money out of the kids piggy banks!!
I haven't seen piggy banks that have separate sections here in Australia, so when the time comes I will just have 3 tins, I would never have thought of doing it that way, so thanks everyone for participating!
Zoe, I am confused by your post. Did you mean a $1 a week? You wrote $1 a year... Anyway, I don't get it. LOL maybe its just my tired brain.
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RE: Children and Pocket Money - 8/13/2008 9:45:27 AM
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zoebob
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quote:
Zoe, I am confused by your post. Did you mean a $1 a week? You wrote $1 a year... Anyway, I don't get it. LOL maybe its just my tired brain.
I had to reread it too. I meant giving them $1 for each year old they are every time I get piad: ie giving the 12 yr old $12 every time I get paid, etc.
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L-R: Ellies DD1, Ellies DD2, DS, Ellies DS3
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RE: Children and Pocket Money - 8/13/2008 7:03:24 PM
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nicole6598
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From: Australia
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ooohhhh I get it now zoe, thanks clearing that up :) I would cap it to a certain age I think and then add bonuses in when they go above and beyond.
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RE: Children and Pocket Money - 8/13/2008 7:52:51 PM
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peculiar_lady2
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we are going to start here in the next few weeks with $2 a month for the older two...$1 per month for the younger two...then every birthday they will go up a dollar starting at 10yo.....before that age I doubt they will really *need* more money then that. When the younger two (or three actually) get to be about 7-8yo or so we will go up to $2 for them too.
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