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Listen Up

ListenUpSyndicate content

Help from our ListenUp experts and women who have tackled some of life’s toughest issues.

ListenUp | 08/31/2009 11:00 pm

Effective Tools for Handling Children's Allowances, by Jean Chatzky

By Jean Chatzky

Editor’s note: An award-winning journalist, author and motivational speaker, Jean Chatzky needs no introduction. As a financial editor for NBC’s "Today Show," Chatzky offers savvy advice on managing money and wealth. Her latest book, The Difference, provides simple strategies for a prosperous financial future. Visit her blog at JeanChatzky.com.

Allowances can be a great tool for teaching kids the importance of money management. On the other hand, if you’re a parent that isn’t the best at paying up on time, your kids might be missing the message. In the past, I’ve been guilty of not keeping up with allowances; but I’ve promised my kids that this year, things are going to be different. We’ll see how it goes. Click here to find out about the latest resources that parents and children can use to manage allowances.

3 Reader Comments (so far…) Sign In or Register to comment

L. C.

I do not believe children should be paid for doing household chores. I believe household chores are a family responsibility. The entire family should have pride and respect for their home and want as a unit to keep it clean, neat and organized. Here are some examples:

The entire family uses the bathroom. Therefore the entire family shares in it’s cleaning. Pickup soiled towels, clean the tub after use. Take turns scrubbing the toilet.

After eating wash your dishes and utensils. Do not leave them for mom.

Each person is responsible for cleaning their bedroom.

Family rooms such as studies, living-rooms ,kitchen, yard, bathroom  are a shared responsibility.

An allowance should be given when children demonstrate responsibility. Children should not be given free money. Mom and dad have to work for it. These teach children responsibility.

By L. C. on 09/01/2009 7:52 am
Eileen Kennedy

I agree with LC that children must share in household chores without payment and I think that all of the chores she mentions are appropriate for kids — if their parents intend to civilize them (as opposed to merely groom them for academic success).  I think, though, that too often, parents end up paying kids for doing their chores as a substitute for effective discipline, which, after all, takes a lot of energy. It’s much easier to just "bribe" them to do the chores by attaching a money reward to it than it is to motivate them to do the chores in some other way.

However, I did not read Ms. Chatzky’s article to suggest that an allowance should be a quid pro quo for doing chores.  I read it to mean that instead of just buying everything the little darling asks for, parents can use an allowance to put a limit on their discretionary spending and teach them that they need to make choices with money, including the choice to save it or donate it to charity.  I’m all in favor of that use of an allowance. 

By Eileen Kennedy on 09/01/2009 11:56 am
Rachel F

Have to agree with LC and Eileen. A family isn’t about Mom and Dad doing everything for the kids; a family is a team, and a team should work together. Yes, everyone has certain roles (financial provider, school attendee, etc.), but there are common chores that should be taken on by all members of the family (as soon as they are old enough, of course). Bribing a child to clean up after him or herself reinforces in the child’s mind that performing his or her chores is more of an optional thing than anything else, as they are compensated for their trouble; it’s the wrong lesson for the child to learn imho.

By Rachel F on 09/02/2009 3:17 pm