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Kids' Allowance
How much allowance should my kids get?
Many families give an amount, starting in kindergarten or first grade, based on their child’s age — for example, $1 a week for each year, so a 12-year-old would get $12 a week. You may want to ask around the neighborhood to find the going rate where you live.
Also consider whether you want to tie the allowance to chores. One school of thought holds that making an allowance contingent on completing chores can teach the value of working for income. Other families believe that chores and allowances should be kept separate. They maintain that chores teach responsibility as a member of the family team, while receiving an allowance conveys lessons about budgeting, saving, and investing.
For more about setting an allowance, visit the links below.
Editor's Pick
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Jean Chatzky’s Allowance Advice
Find out how much allowance money guru Jean Chatzky says you should give your kids. Plus: once you’ve set the amount, how to make the allowance work.
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The Complete Idiot’s Allowance Rules
These are the four main factors that go into determining the size of an allowance. Also: why the old allowance rules no longer apply.
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Should You Make Your Child Work for an Allowance?
Whether your child’s allowance should be tied to chores is a matter of debate. Personal finance blogger Moxie offers her opinion and others respond.
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How to Match an Allowance to Your Child’s Age
Here’s how to set the size of your child’s allowance, depending on his or her age. Rules for parents of preschoolers, elementary school kids, tweens and teens.
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The Obama Girls Get $1 a Week
Barack and Michelle Obama seem to be taking a frugal stance toward the allowances for their daughters, Malia and Sasha. Personal finance experts and parents weigh in on their opinions about these allowance rules.
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Money Smart Kids: Allowances
Why give kids allowances? What should it cover? When should you start and how much should you give them? These answers and more from MoneyWatch special contributor Ray Martin.
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Kids and Money: 5 Ways to Instill Good Habits
New research shows that paying kids to eat their vegetables turns them into vegetable lovers long after the bribes have ended. Paying kids to practice good money habits may produce the same result. Here's how. by Dan Kadlec
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3 Rules for Kids' Allowances
Allowances are a great way to teach kids about money. But don't just hand your child the cash each week, says Ray Martin.
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Ask the Experts: Kids and Money
Bank of Dad blogger Dan Kadlec joins Jill Schlesinger and Jack Otter to discuss raising financially-savvy kids. He explains why poker is a great financial tool, and the importance of an allowance for kids of all ages.
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Money Skills for Your Kids: Ages 4 to 9
To help your kids grow into money-savvy adults, start early. Here?s how to instill good money habits in even your youngest. by Kathy Kristof
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Money Skills for Your Kids: Ages 10 to 14
You can get tweens to adopt the right lifelong money habits. But first you have to get their attention. by Kathy Kristof
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Allowance for Kids: How You Pay Can Teach Important Lessons
Paying a set amount every week sets the stage for real world money management habits. The child might more quickly learn that their spending has limits (this may sound familiar) and that budgeting is important because there is no more money until the next "pay day". by Ray Martin
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Forget Sex, Talk to Your Kids About Money
Parents know to expect some tough questions from their children. So I wasn't caught off-guard when my daughter started badgering me about where babies come from. But some mothers and fathers may be surprised to learn that the majority of kids also want to have some tough conversations about...
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Kids' Allowance: How Much Should You Pay?
Should allowance be linked to chores, or simply a way for kids to learn about money? Many parents struggle with a sensible system. by Sarah Lorge Butler
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Beyond Piggy Banks: A Parent's Guide
MoneyWatch catches up with two families to see how they handle tricky allowance questions and teach their kids about money management.
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