How Are Parents Doing Allowance And Chores?Week of February 9, 2019
How are parents doing allowance and chores?
Encouraging children to value money and have a work ethic is challenging - simply because they are born getting everything for free. The most common ways to instill these values in kids is through allowance and chores, but it's not always clear how best to structure them.
We’ve been asking parents what they think and discovered there's about as many ways to do allowance and chores as there are parents.
Did you know?
53% of parents don't give their kids allowanceFinder
Tying allowance to chores teaches children that money isn't free.
However, this can make it harder to instill the importance of just helping around the home.
This is the most common reason parents give when we ask them why they don't do allowance.
What matters most is being clear and consistent.
Allowance and chores are one of the first ways in which children are introduced to agreements and contracts. It's important that we, as parents, set a good example and uphold our end of the bargain, while also holding our children accountable.
We hear lots of stories from parents about how hard this (life is busy, the kids put up a fight or play the parent’s off against each other), so we recommend writing down the rules and setting a day for checking in.
What others have to say:
The case for giving chores but not allowance
And if they need or want to earn spending money, create a job for them or help them find one.
If you do allowance, how much should you give?
Every family is different, but a good rule of thumb is $1 per week for each year of your child’s age, and that’s roughly what the average American family does.
There are good arguments for and against doing it. We’ll talk more about this in our next newsletter.