Whether or not children should be given an allowance is always up for debate. Critics will say that children shouldn’t be given money for nothing, and that allowance shouldn’t be tied to chores — because everyone needs to do chores for the good of the family. However, proponents of allowance say that it teaches kids responsibility and money management.
To me, there’s an easy compromise in the middle. Kids can learn that everyone needs to pitch in around the house. And I don’t think that children should be given an allowance for standard chores. However, for extra jobs around the house and yard, I believe kids should get a monetary reward.
Allowance helps children learn quickly that a poor effort won’t result in a full allowance. They will develop a strong work-ethic and a sense of pride in a job well done.
Allowance lets kids learn to handle and budget money. They’ll have to decide whether to spend their allowance every week or month on small items, or save up for a bigger purchase.
Many parents have success by creating a chore chart with expected standard tasks that don’t earn an allowance, along with a list of bonus chores that each child can take on for a specified amount of money.
Do you give your children an allowance? Leave a comment and let us know.