Is allowance for kids
an organizational challenge?
When calculating allowance for kids it is important to be fair and accurate. I myself need to know how much to add or subtract from their base amount, remembering deductions for
buying back confiscated toys,
and additions for extra chores. It's a lot to keep track of!
My solution is simple.
Each person has an allowance envelope with their name on it. I calculate how much they get monthly/weekly and I write it on the front of the envelope.
I also have a big sticky note on the envelope to record an
extra amount, like for a special job
. I have another envelope for the wad of ones, which we have to withdraw monthly. Learn from my mistakes: if you have no money to give them when it's supposed to be Pay Day, the system starts to fall apart!
After they have put away any confiscated items from the tidy up basket
, I give them the kids allowances envelope, they take it and put it wherever kids keep money, and they return my envelope for next week. Simple, but it really works for our family.
Finally, money only works as an incentive if they have the chance to spend it. At least a part of their money should be spent on something of their choosing, so that they begin to see the value of money.
Our favorite place to let them spend their allowance money is the grocery store, where they'll choose a treat we don't normally buy. We channel them towards semi-healthy treats like yogurt, fruit, or chocolate milk.
Occasionally, though, we let them buy more questionable items, too, because spending their allowance on what they want helps
teach kids about money
, and until they understand that, money is not an effective bargaining tool.
Staying organized with allowance for kids can be a struggle, but give this system a try!
Go to Chore Charts from Allowance for Kids