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.


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.