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Kids -
Development
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Before a child can work for a paycheck, allowance is his only way to earn extra spending money. Besides helping children realize the relative value of money, an allowance also helps you, as a parent, by giving you a way to motivate your child to help. But before you pay up, explain to your child that he is ultimately responsible for one or more chores, which will have to be done to your satisfaction before he gets any money. |
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Chores -
Types of Chores
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Picking up toys - Getting your toddler to pick up after himself can be a great help, it can also be a chore in itself!. But it’s usually too much to expect him to put everything in its exact place. A better approach would be to provide a laundry basket or large box for him to simply throw all of his stuff into. Then you can take it to his room and put it where it belongs. Always start out buy showing the toddler what to do, and then having him help out. Making it fun, or making a game out of it can help. When my oldest was a toddler our game was who could pick up the fast. He always won, and he always got a kick out of beating his Daddie. Helping our with the laundry - This is one of my favorites and my kids love it. All moms could use some extra help with the laundry, and young children are often happy to oblige. Toddlers can help sort dirty clothes, and you can even turn it into a learning experience. You could also enlist your toddler’s help in loading and unloading the washer and dryer. As the toddler gets a little older, you can fold the clothes up for him or her and they can help put them away. Watering plants - Small children usually can’t resist the opportunity to water plants. This is another task that could get messy, so make sure your plants aren’t sitting on or near anything that could be easily damaged by water. It’s also smart to make sure they don’t fill the watering can over half full. This will help prevent spilling the water in transit. Feeding the pets - Kids are often honored to help take care of their pets. Toddlers are capable of helping to feed pets, but occasional messes should be expected. To minimize accidents, you could buy pet food in individual packets or cans for small cats and dogs. For watering purposes, toddlers can put the water into a small watering can and then pour it into the bowl. Cleaning the floors - It may seem like an adults-only task, but floor cleaning is something that kids often enjoy. The trick is to let them use tools that they can easily manage. Cordless floor sweepers are ideal for this purpose. There are also small, working vacuum cleaners and brooms available in the toy departments of most stores. While it might be too ambitious to expect a child to sweep all of the dirt into a neat pile, he can help get the dirt out of the corners while you go behind him and sweep it all together. |
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Allowances -
Amounts
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Written by Teen Payments
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The best time for a child to learn how to handle money is during the tween years. By the time a child is a preteen, he's usually responsible enough to keep track of money, and because it will be years before he holds down a regular job (besides babysitting, lawn mowing, etc.) allowances can be the best way to get him thinking about spending, saving, and making wise consumer choices. If you haven't yet considered offering your child an allowance, now would be a good time to do so. If you already offer an allowance, consider the following tips to raising a money smart kid. |
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Chores -
Age Appropriate
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Preschoolers still find helping to be an exciting venture and usually are thrilled when time is taken to teach them new chores. They are ready to do some chores without constant supervision. Rewards at this age are very motivating. A sticker chart that allows you to build up to bigger rewards can be appropriate. For some preschoolers, tying chores to an allowance is a great option and fosters independence in choosing a reward.
Some chores preschoolers can do in addition to the ones above… Clear and set the table. Dust Help out in cooking and preparing food. Carrying and putting away groceries. |
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Kids -
Strategy
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When constructing the spending plan, be sure to list everything your children are to be responsible for--in order to avoid confusion. School lunches? After-school snacks? Video rentals? Movies? Also, build in flexibility by adding a little cushion for what you didn't think of and for surprises--an unexpected birthday--party invitation, or a slumber party with the kids chipping in for pizzas. The cushion is valuable because surprises are inevitable, and it helps kids learn about choices. And, don't forget savings. Help your children decide on a sensible .amount to save each week--at least 10 percent of their allowance or total income. As your kids get older, their allowance and responsibilities should increase to prepare them for independence. When helping your older kids draft a spending plan, include some bigger-ticket items: clothing (maybe start with only one category, such as shoes or accessories), sports equipment, film and processing, or vacation spending money. You'll be surprised by the amount of responsibility your pre-teens can build into a spending plan. And mistakes? While it's certain that they'll make a few, it's also certain that they'll learn from them. And it's better to make small mistakes now than larger ones later. This is part of the reason for a weekly allowance. |
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