This is a question, I have heard over and over... Should you give your children a flat rate allowance or should they be paid based on the chores they do? Well, let's look at both sides of this debate:
Flat Rate Allowance:
Flat rate is a set amount of money given every week or month with nothing expected from the child in return. Why would you go for this method? Well, this is purely a way of teaching money management. Advocates for this method also argue that it teaches children to help and not have to expect anything in return.
The Chores Based Method:
The chores based allowance is either a set amount of money you give a week/month that is paid only if chores are done OR paying allowance only for specific tasks. Why would you chose this method? Well, supporters of this method will tell you that it teaches the relationship of working for what you earn. If you chose this method you should be clear about what chores are that way you do not raise a child that expects payment for EVERYTHING he/she does.
What method do we use?
In the Sanderson home we have a chores-based allowance system. Our children have their regular chores- keep their rooms and bathrooms clean, and kitchen clean-up. Those are done free- as I tell them because you live here and in this family everyone contributes, and because I am not your slave! However, we always have "extra chores" that can be done for payment. Toilet cleaning for example can be done for $2/toilet. When you have 3 in the house that can add up quickly! They can also always ask- is there anything else I can do for extra money? This method for us has eliminated the "I'll do it but how much do I get?" question that annoys me every time I hear it and also shows them them that initiative and hard work can pay off!
Stay tuned- In my next blog I will teach you how to teach your children the value of a dollar. :)
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