Loose change/allowances

**ophelia** · 01-16-2003, 03:53 PM

I used to use loose change as I got it, paying for things in exact ammounts. Now that I live with my fiance and his 14 year old Blake, I save my change. I keep the quarters for laundry (we live in an aprtment building with pay machines! Can't wait to move and get my own...) but all other change goes into a jar in Blake's room. He doesn't recieve an allowance nor do we constantly hand him twenty dollars everytime he walks out the door like so many parents seem to do, but as long as he helps out a bit with the chores, I let hime keep all the change. He is in charge of counting and rolling it. Before Christmas this year, he took it to the bank and and had over ninety dollars! He was able to purchase Christmas presents, open his first savings account, and have a little to spend. I think this is great because it's teaching him that every bit counts! Now he thinks twice about spending fifty cents on candy when he can save up for something he really wants.

What do you do with loose change? Do you give your kids an allowance or pay them/reward them for doing chores?

**heaven** · 01-16-2003, 03:58 PM

my children are not paid to do things around the house. they know things need to be done around here and they have to help out. I do occationally give them some money though it isn't much or often. seeing i can't afford it.

**captclearance** · 01-16-2003, 04:07 PM

Mine don't get allowance either, that is a good way of doing it......
Ben Franklin said "a penny saved is a penny earned "

**NativeMommyof2** · 01-17-2003, 12:27 AM

My hubby and I put allthe change in a jar and we plan to open a saving account for our boys when the jar is full

Sometimes hubby will put some change in a cup we have and I will take some change and take the boys to the store for some treats or to McDonals for a treat cause they now have the dollar menu.