There was a discussion I was a part of not too long ago. A group of mommies talked about allowances. What age was appropriate to start and what was appropriate to give an allowance for? A few different views were given and discussed. Then I saw one that really resonated with me.
Chores around the house should not be used for allowances. Typical household chores are just a part of being in the family and living in the home. Everyone has to do their part to help out. I also want my boys to learn about saving money for what they want. This led me to forming a hybrid of ideas.
I had seen different things floating around pinterest about ways to earn toys back from time out or extra time on the TV. Instead I took those ideas and turned them into allowance ideas. The boys both have household chores that they have to do regardless. If Big M see’s something at the store that he REALLY wants then he can pull out additional helper slips to earn some money. No one slip will get him what he wants unless it is a dollar ice cream cone or the like. This means that he will have to save up his money for what he wants to buy. Our hope is to teach him the value of saving for things and not buying entirely on impulse. Also, there are some duties that you just have to do whether or not you get rewarded for them.
As they get older the chores they have to do will change to be appropriate to their age and so will the extra helper slips. This is what works for our family. Others choose to give allowance for the everyday chores but that is the only money the child has to spend and still others do something different. I encourage you took take a look around at all the brilliant ideas and find what works best for you and your family.