Starting on an allowance

**HeatherB** · 10-03-2007, 12:48 PM

DH and I have just started my son on an allowance. We've made up a chart for him with three chores a day to do, and he will get 25 cents per chore. At the end of the week we will add it up, and that's his allowance. It will be a bit much, considering he's only in Kindergarten, but we're opening up a bank account for him and half of it will go in there. I remember when I was a kid, my dad would take me to the bank every other Friday to deposit my allowance, and it always made me feel so grown up. I'm hoping this will teach him the relationship between work and money, and plant the seed of responsible money management. What do you all think?

**gentledenny** · 10-03-2007, 12:53 PM

Sounds like you are going to raise a responsible young person and getting them off to a great start.

**frugalfarmwife** · 10-03-2007, 01:11 PM

This sounds like a wonderful start for him, and a learning experience all the way around!

kj

**Edna_E** · 10-03-2007, 07:58 PM

That's pretty much the way I raised my son - early account, regular deposits of part of funds, etc. I do think it is also important, however, to teach children that doing some chores is simply part of being a contributing member of a household - so not all of them are paid for.