Allowances for children are a tricky matter. Whether to tie allowances to chores or not is just one question to consider. I still don’t think there’s one right answer but that doesn’t stop people from taking a stand. One of Gary North’s articles today (in his members’ section) has this headline: “Do You Pay Your … Read more
When we moved from our old house to the new one, we left a house with a septic tank and went to one that was served by our county’s sewer service. Having one over the other isn’t that much different, I suppose. They both do the job. Having a septic system requires maintenance (regular pumping) … Read more
I have no doubt that my daughter understands negotiation. I don’t have to go any farther than the dinner table. JP (my daughter): “Daddy, can I be excused?” Me: “You need to finish your dinner first.” Three minutes later, pointing to her plate: JP: “How’s this, Daddy?” Me: “You’re not done yet.” Two minutes later, … Read more
Kimberly Palmer, senior editor for US News and World Report and author of Generation Earn (see my review) posted on the smart way to pay kids an allowance. (article is gone) She drew on statements from several experts who had researched the way children responded to different kinds of exposure to money from their parents. … Read more
I like McDonald’s. It’s not a staple in my diet, but in a pinch it serves a predictable meal that tastes pretty good at a reasonable price. I also have fond memories of it from childhood. We didn’t go there often (maybe once every few months), but we usually made it there for lunch on … Read more
The answer to the problem of how to expose children to money doesn’t have one right answer. (There are wrong answers, though, such as “Give the child as much money as she wants.”) One of the points of debate is whether to tie the allowance to chores or not. Tying the allowance to routine chores … Read more
This year we started our daughter on an allowance. It’s probably a generous-ish allowance for a five-year-old: $2.50 per week. For “spending money” this actually amounts to $1.50 per week because we have her tithe 10% and save 30%. I’ve gotten into giving this to her each week for the past couple of months. When … Read more