What is a weekly fair allowance for a 7 yr. old boy?

Answer 1

What I think it is a good idea, though it could be confusing for a 7 year old, depending on the child, is giving a high amount, and putting half in the bank. I'd do like $6 a week and put three in the bank. We do this for an eleven year old and thirteen year old. we give ten dollars a week, but at the end of the month, they owe 5 dollars for every week in that month. You could just put the half in the bank that week, and not wait till the end of the month, but our girls are older and understand. Don't put it in an exsiting bank account; create a new one just for him. He will be excited to find out how much he has in the account, and he can save it for something he really wants, or you could save it for college. good Luck!

Answer 2

There's no simple answer to that question. It depends on where you live, and how much things cost where you are. A fair allowance in one area may not buy you anything in another area. A fair allowance would be enough to cover things you might want, say an occasional soda, or a new CD or video game every once in a while. It shouldn't be too much, because an over abundance of cash can get a kid into trouble. They also need to learn the value of saving up for something they want badly because they will take better care of it than if it were just handed to them. It also depends on how much a parent can afford to give as an allowance.

Answer 3

I'm a fan of the dollar a year concept, but a dollar doesn't go far these days. I think allowance should be enough so that the child can afford one activity a week, such as a movie or skating, etc. Teaching your child to save 10% of his income from this day on - he could be a millionaire by the time he's an adult.

Answer 4

what we've finished for our daughter is $20 each week. 10 is going interior the economic business enterprise and the different 10 she would be able to ought to save. Shes no longer allowed to the touch that different money, yet she would upload to it if she needs. the way we seem at it truly is that if we try this a week, by using the time shes 50 she would be able to have a million money interior the economic business enterprise!!!! while she became little she all began with 10 just to play with if she saved stable grades and her room clean

Answer 5

I would say each chore he did he gets a dollar. For example if every day he needs to make his bed ($1) and vaccum his room ($2) he would get $2 a week. Some good chores for his age is taking the trash in and out for the week ($1), sweeping the kitchen/dining room ($1), dusting his room ($1), and emptying the diswasher ($1).

Answer 6

A dollar a day..basically 7bucks a week. Its not fair to give 2 bucks a day kuz he could save up the money for when hes a teenager and buy something good for himself

Answer 7

For every 4 chores he does he gets a dollar.

Answer 8

5 dollars a week

Answer 9

it really depends on how much this tyke does. let's say...simple help around the yard, cleans his room, helps mom with clothes. i would say 7 or 8 dollars a week. it's a start.

Answer 10

My 11 year old doesn't get anything. But he doesn't want for anything either. He usually gets a gift or two when he's been especially good or helpful.