Allowance & Chores

I feel all children should have household chores starting as early as age 3 along with a weekly allowance. I have seen many adults who cannot manage money and wonder if they were ever taught in their youth. Parents…you are teachers! I basically gave my children birthday and Christmas presents, after that anything they wanted they had to buy on their own (minus clothes). Make sure kids also know they don’t get paid for every little thing they do. Some chores are part of being a family, some chores earn allowance and the bigger chores (and I mean BIG) then you can throw some extra $ their way.

I also feel children should buy family members gifts for birthdays and holidays with their own money. Again, this is learning how to budget!

Being able to manage money is one of the great lessons in life that your kids will thank you for teaching them…well maybe not as youths but as adults!

(originally posted April 25th, 08)


One Response

  1. Yes! My son, almost 4 years old, has a daily routine of chores. I don’t know any other kids his age who have actual chores, not just “well, my kid helps with X when he feels like it.”

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