How much allowance to give a 7 and 10 year old?

Question

I now give them $4 each - half of which goes into savings and the other half - $2 they get to spend. What do you think of this amount?

Answer 1

Not enough. A CD is $10+, a book $4+, movies and $8+. As they get older they will ask for more, so if you raise it now,then they wont beg as much for a little while longer. I guess it depends on how much chores they do. Try $6-$10 a week. Or like i do, give them their age in $$$. $10 and $7

Answer 2

That is fine but I would make them earn it. My kids (8 and 11)earn $5 per week for regular chores. They have about 3 or 4 but if they do something extra or out of the ordinary then they get 1 or 2 dollars more.

Answer 3

Every Thursday, I give my kids half their age - so they get the same allowance for two years. Age 6 = $3, age 7 = $3, then age 8 = $4 and so on.

Answer 4

I have 8 & 11 year old girls, I use a point system for their allowance, every time they reach 500 points I give them 10% of what they have saved or $8, which ever is higher.
This helps them develop the habits of budgeting and saving.

We developed a point system over the last 2 years, and it seems to me that the more sophisticated the system is, the more they like it, it's kind of a game.
every night before they go to bed I sit down with them and we say our highs and lows for the day, then they each have a check list that we go through, things like: did you feed the cat, is your room clean, were you kind to your sister, did you leave to school on time, etc. each item gives them a number of points. Once they reach 500 points, then they get their allowance.

I use the same system to decide on their bed time, and to help them get rid of undesired habits (i.e. knuckle cracking)

Answer 5

No one is going to like this answer--no allowance!! we all chip in on Saturdays and have a bit of a race to get things done, we even pitch in and help whoever is behind!! then we as a family decide what reward we will do to celebrate!! It has turned out to be a fun family tradition. Being 1 of 11 kids that is how we did it !!! Then on holidays they usually get what they really want, and they are creative about accepting and completing odd jobs to earn x-tra spending cash--babysitting--mowing!!! We pay for their college [1now and 2 more to go!!]
This generation is too $$$$$$$$ crazy.

Answer 6

well the biggest always get more so i would say 4 to the 7 and 8 to the 10

Answer 7

give the 7 yr old 7 bucks and 10 yr old 10 bucks a week.
take half of each into savings.

Answer 8

I have always agreed that $1 for every grade they are in (kindergarten $0, !st grade $1, 2nd Grade $2, and so on) Unless chores are involved I think so much for each chore..your choice on the amount (dishes $.50, taking out the garbage$.25, etc.) Making their beds and keeping rooms clean should just be their responsibility.

Answer 9

Five dollars is sufficient. My daughter has set chores which include keeping her room clean, folding clothes when asked and bringing the garbage cans downstairs. She can earn extra money by doing additional chores, a dollar or two here and there.

Give your 10 year old a little more, however they must do additional chores

Answer 10

We give our son $2.00 a week. He has to earn that C.D. or that Wii game if he wants it...that is the point of having an allowance.

Our son has to scoop the litter, help with cleaning up his sisters toys- she is 11 months old, clean his room, empty the garbage and unload the dishwasher nightly.