Now that J has steady employment, we've been discussing how to handle the issue of allowance with the kids. In the past, we gave them a small weekly sum simply to teach them how money works {and to stave off the gimme's that always struck while going through the check out at the grocery store} but now that they're older, we feel they're ready to earn their money, as well as become serious about paying their tithing and putting away savings.
We discussed which household tasks {separate from their daily chores} we'd be willing to pay for, then made up a reference chart with the appropriate sums. We also decided we wanted to put them on an old fashioned envelope system: each child having an envelope for giving {10%}, saving {10%} and spending.
Instead of paper envelopes {which wouldn't last 24 hours in this household}, I found several inexpensive mesh cosmetic bags in the dollar section at Target and bought blue for the boys, pink for Little Miss C. I then made color-coded 'Give', 'Save', and 'Spend' tags {a different color for each child, corresponding with their color coded chore charts-- geeky, I know}, laminated them, and placed them inside the mesh bags.
I've talked about their chore charts in a previous post, but made a modified version for their extra chores. Each time they do an extra chore, we write down what the task was, how much they earned, and on which day the task was completed.
Once a week {after Family Home Evening} we add up their totals and they get paid, immediately placing the appropriate amounts in their corresponding envelopes.
It's only been a week so far, but so far they're so excited to earn money that they've glossed over the fact that we don't give them an allowance any more. :) Orderly stuff like this makes me ridiculously happy.
What about you? Do you give your children an allowance? Have them earn it? Do you put a cap on what they can earn {like we do-- or we'd go broke}? Do tell.
PS If you like, you can print the modified chore charts here or the Give, Save, Spend tags here.
6 comments:
This is an AWESOME system you have going! Love it.
When my kids were all younger I had a very organized chore system with charts and the like. Now that I have two in Middle School and more activities going on for everyone than we can handle, the chore situation is more about them being responsible for their personal space as well as a bathroom. There are certain chores each kid knows they do at least once a week - Chris does trash and recycling, Hannah folds socks and vacuums the stairs, Soren empties all trashes in the bathrooms, etc. And then they all help with the dishwasher every single day.
As far as 'payment' goes, we've started a bank account for each child and put a year's worth of allowance for ALL the work they do to contribute to our family in a year. That way their money is earning interest, they learn how to be an account holder, make deposits and withdrawals, and they can work with us to make large purchases after careful consideration.
We hit upon a system that worked great for us - we just borrowed all the kids' money until they became canny enough to bury it in the back yard when they saw us coming. They all grew up to be financial wizards with far more resources and acumen than their parents ever had. We now visit them periodically with shovels and metal detectors. True story.
I am so glad you are just a bit ahead of me in the parenting front. You lay the ground work and I can simply sweep in and take advantage of your brilliance and style :)
No current tracking system. Most of our chores are a given: clear your dishes, hang your towel, dirty laundry in hamper, clean clothes in drawers, pick up your floor, bi-weekly playroom put away. Boys get the special chore of toilets. You can guess why.
Occasionally, they seek out extra opportunities. Right now they're into weeding. Happy me!
Your organization is magazine worthy!
I love this idea! And I loved your last post SO much! I have told so many people of your wonderful analogy. Thanks for being so honest with us, I have learned so much!
i wish someone would pay me to make my bed! i never do, which really is ridiculous. this looks like a great system, and i love those mesh pouches!
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