Wednesday, February 06, 2008

Allowance schedules, other stuff.

Good Morning, it is Wednesday.

Another cold, rainy, windy gross day around here. The golf courses will be open, so I am going golfing today. Last week the courses were closed, and Hansen had his ear tube surgery on my golf day, so I have not golfed for two weeks. Arg...I can hardly be expected to remember how to golf with those type of intervals. Luckily for me golf is kind of like riding a bike.

Amber asked about allowance schedules for our kids. Here is a brief history. Years ago we had weekly allowance for the kids, they would get as much per week as they are old, they would then have to save 10% and donate 10%. It was a good system when they were younger. Preston and Hansen both had the chance to give money to good charities and such. The problem is now that they are 11, 8, and nearly 5, that would be like $100 per month in allowances handed out weekly and quite frankly, we can't afford that with me not working. So, we put a cap on allowances at $5.00 per week per kid, but let them spend all of the money. Spending their money became a whole different problem. I do not enjoy hour long visits to the Fred Meyer toy department...and it is even worse when the kids only have $5.00 and everything costs $9.99. So after a while I started giving the kids allowance on the same days as Maren and I get our allowances. The 5th and the 20th. Two time per month. But they got $10.00. This was better because they could buy better stuff, and I spent less time per month in toy isles. And to help Hansen out (at his own request...he knows he can't save up to $20.00, so we save for him) we have gone to a once a month allowance. The boys are each getting like $20.00 per month and Lillie is at like $10.00 per month. Preston usually saves his money, he wants a good quality electric keyboard. Hansen sucks every penny out of his allowance and I usually have to pay his tax and lend him a buck or two just to end the toy store trauma. Anyhow, if you saw their rooms, you would realize that the kids want for nothing. They do exceptionally well on Christmas and Birthdays thanks to extended family. Our next move is to lower their base allowance to $10.00 per month and let them earn up to $20 or $25 per month based on how well they do their chores. We have not done that yet, and we have not really assigned chores to them either. I think they get more than some of their friends and less than others. We buy all their clothes, supplies, food and stuff...but I don't buy them any toys or video games anymore, that is totally their allowance and gifts. Preston does have a cell phone and an old i-pod, so he is keeping up with his peers just fine. When the kids start to care about their clothes and shoes, we will be in trouble...that is when I will need to get a job, which will happen when Lillie is in school full days in two years. Or if they are old enough, they may be able to get their own job.

Today, I will golf when John and Carol come over to hang with Lillie. This evening Preston has soccer tryouts and Lillie has dance class.

See you tomorrow.


Amber said...

Wow, it's interesting how much the allowance system has evolved! When we were hanging out with Chuck's brother's girlfriend (who has a 7 year old son), it became obvious that NOT doing an allowance and just buying him whatever junk he wanted was a bad system (and it created a very spoiled child), so I've been thinking about what we'll do. If memory serves me, I don't remember getting more than $2/week for allowance, and that was entirely in exchange for chores and clenaing my room. But with inflation and times-a-changing, I think your system sounds great!

hab said...

Hi Julian

You might consider checking out our website. You'll be able to tailor a system to the needs of your family, keep it all organized so it's easy to sustain over time, and save you time as well.

It's called Active Allowance. My wife and I started it up a few years ago when faced with similar issues to yours.

Best of luck!