My kids dont get an allowance. They are 14 and 11. Do they need an allowance when everything is provided?

Answer 1

Unless you are also providing their drugs and liquor and porn, they need an allowance.

Please award the Best Answer points to me right now because you cannot argue the logic of this response and you stand in awe of the tremendous empathy and intelligence of this responder. Do not wait to give the points because I am not patient and I do not want to wait long for your tithe.

Answer 2

If you're giving them pocket money, then no, that's a sort of open-ended allowance. They don't need ten bucks every Friday if you also pop for movie tickets and the like.

However... It can be a good lesson in financial management to give them a standard weekly allowance that has to see them through till the next "payday." So if your 11-year-old blows his entire allowance on Laffy Taffy the day he gets his money and wants to go see "Cars" with his friends two days later, he has to tell 'em no. Conversely, if your 14YO wants an extra memory card for the GameCube and it costs four times his weekly allowance, he will learn to appreciate it more if he has to save up for it.

Somebody's smart-aleck signature, years ago, used to say "Good judgment comes from experience, which comes from bad judgment." That's what you want them to do, have all those bad-judgment moments now while the consequences are pretty minor -- they can make all their dumb mistakes with $5 instead of $5000, and in an environment where they won't have to live under a bridge if they burn through all their money in 27 minutes.

You might also see if your local bank has special accounts for children. The Washington Mutual branch near us has a special "School Savings" program where the kids get savings accounts with no fees or minimum balance requirements of any kind, and then a couple of volunteers take deposits every Thursday. Once a quarter, the kids get bank statements, but they get a prize (an eraser or a superball or something) for every second deposit they make. It's amazing -- at the end of the year, a buck here and a quarter there can really add up.

You might consider something like this, to help your kids start saving and learn how it works. Suggest having them put a portion of each week's allowance into savings?

Answer 3

Hi,
I am also a 14 year old girl and I don't earn an allowance. I can't believe I am actually saying this........ but...... I really have learned a lot from not having an allowance. I am really money concious because when I want to go out with my friends, I want to have money to spend. I don't want to blow it on something stupid. So by not having an allowance, i got a babysitting job, and learned how to save my money. I still get to go out and have fun because I have babysitting money that I save. I also save up birthday, Christmas, and Easter money. That way I have plenty to use.

Also this is just a tip... my mom will give me a five or ten here and there sometimes just to help me out when I go to someplace like the movies. Because I don't ask for it all of the time and I learned to handle mine. It has made me more responsible and I smile when my friends have no money to spend because they blew it right when they got it.... it makes me proud! =) LOL!

As a 14 year old, there is a lot of things I want to buy and sometimes it is hard, but waiting is worth it. Give your kids a break, all kids want money to spend, so maybe if they don't usually get good grades, than you can give them a 5 or ten when the get A's. Just a suggestion!

Answer 4

they don't "need" one, but an allowance is a great way to teach responsibility. You can say that you'll give them an allowance in exchange for chores, grades, anything you want, really. Then when they want that new cd, or that new gadget or whatever, you can tell them that that's what their allowance money is for... or for movies with friends, sans parents. That way they're used to spending their money...

One thing my dad did that was neat (and one of the few things I think that I will imitate with my own kids) was with grades.

At the end of the semester report card, I would be paid money based off my grades... so, I don't remember the exact figures, but we could say an "A" was worth 20 bucks, a "B" worth 10, a "C" didn't earn any money, a "D" was that I owed him 10 bucks, and an "F" was that I owed him 20. It's a nice reward for hard work, but it also builds in punishments for bad grades. I loooooved getting my report card.

Answer 5

They are at an age where they need to start learning responsibility. You are not always going to be there to give when what they need or want. I suggest assigning them chores. If they complete their chores give them 10. 20 bucks a week or however much you decide. At this point I would only give them what they need as opposed to everything they want. It will be a good lesson for when they are on their own. If they want to earn more money they can pitch in more around the house or see if they can work for relatives or neighbors to earn more money. You spoil them too much and they'll hit a big reality check in the real world where no one will give them anything.

So if they want to go to movies with their friends they should use their allowance money as opposed to hitting you up.

Answer 6

Yes, they do. They each have at most 7 and 10 years respectively before they will finish college and have to go out into the real world and manage money for themselves. They need to get into good habits now.

I have also heard it said - and I think it makes a good deal of sense - that the allowance should not be given for free, that it should be associated with doing some kind of work around the house, so they don't get the idea that money grows on trees....

Answer 7

I don't think so. If everything is provided for them they don't have much use for an allowance. But the decision to give them allowance is yours to make. Most kids like to get an allowance so that they can get things that they want on their own. I feel that it makes them feel more like adults in that they are buying things for themselves with their own money. So it wouldn't hurt anything, but they don't really need an allowance.

Answer 8

I was given an allowance during my childhood. However, I had to earn my allowance each week with chores around the house. My parents provided most things; however, I had to budget my entertainment based on my allowance. I think it helped me to learn to budget and manage my money. I was also accountable for my spending decisions. Once I spent my allowance, that was it. If I wanted to go to a movie, my parents usually didn't advance me my allowance. (There were special occasions where they made a rare exception). I think developed skills during that time that really benefits me today.

Answer 9

In my family, we kids "earned" an allowance. There were 6 of us. (In the 1960s). We made our beds, did chores and other duties our parents found for us to do (mow the lawn, vacuum, clean up after the dog, etc.). We didn't earn much, but this money was ours. We deposited most of it in the credit union and watched the interest grow.

My sister and I earned extra money babysitting. My brothers from caddying (carrying golf bags) and mowing the neighbors' lawns.

We used this money to go to movies, buy clothes and books for school.

This taught us the importance of saving for something important and not relying on Mom and Dad for everything.

If you give your children and allowance, it doesn't have to be much. But, they should understand that it is earned, not given.
They should also contribute to the household- through chores and other tasks you give them.

Good luck!

Answer 10

I think kids that age definitely should be given an allowance. This way when they see something they want but probably don't need they can purchase it for themselves. By purchasing their on wants they learn how to be more responsible with money. If they know how much they have to spend they may learn to spend more wisely which is a lesson they will carry with them throughout their life...hopefully.

Answer 11

No they don't need an allowance, but this is the age when you should start them with an allowance because it teaches them to value money. It teaches them to save for things they want. Also when you are punishing them allowance can be one of the things you take away from them.