Comments on: Little Paychecks http://thesocalledme.net/archives/little-paychecks/ me. my life. my opinions. Mon, 08 Sep 2008 05:14:57 +0000 http://wordpress.org/?v=2.6 By: KJ http://thesocalledme.net/archives/little-paychecks/#comment-28644 KJ Thu, 01 May 2008 20:47:10 +0000 http://thesocalledme.net/2007/08/08/little-paychecks/#comment-28644 My husband and I have been toying with this as well and I came up with a paycheck. Neither of us were given an allowance and we don't thing our kids should have them either, but we do want them to learn the value of a dollar and to save. So when I get paid I've created a paycheck for our oldest son - he get's paid for going to school every day. He get's all the deductions just like I do and then he has to pay his part of the bills. Once he has paid everything and he has not more bills, he get's to keep what s left over. He might earn more if he did odd jobs for others, not us. His home is just that, his home and we teach him how to take care of it and that it is a must - not that you will be compensated for what you should be doing. The check idea has been working and he's learning to save instead of spend. I wish my parents had did this sort of thin with me when I was growing up. My husband and I have been toying with this as well and I came up with a paycheck. Neither of us were given an allowance and we don’t thing our kids should have them either, but we do want them to learn the value of a dollar and to save. So when I get paid I’ve created a paycheck for our oldest son - he get’s paid for going to school every day. He get’s all the deductions just like I do and then he has to pay his part of the bills. Once he has paid everything and he has not more bills, he get’s to keep what s left over. He might earn more if he did odd jobs for others, not us. His home is just that, his home and we teach him how to take care of it and that it is a must - not that you will be compensated for what you should be doing. The check idea has been working and he’s learning to save instead of spend. I wish my parents had did this sort of thin with me when I was growing up.

]]> By: feefifoto http://thesocalledme.net/archives/little-paychecks/#comment-15282 feefifoto Wed, 02 Jan 2008 03:04:05 +0000 http://thesocalledme.net/2007/08/08/little-paychecks/#comment-15282 The allowance debate is always relevant. Hope you eventually figure out what's right for you. Just make sure you don't give out money until you're sure you're not going to have to find it again on an ER xray ;). Just linked to you from my blog: http://blog.feefifoto.com/2008/01/who-says-youre.html. Feel free to visit and give me your opinion. The allowance debate is always relevant. Hope you eventually figure out what’s right for you. Just make sure you don’t give out money until you’re sure you’re not going to have to find it again on an ER xray ;).

Just linked to you from my blog: http://blog.feefifoto.com/2008/01/who-says-youre.html. Feel free to visit and give me your opinion.

]]> By: David http://thesocalledme.net/archives/little-paychecks/#comment-14028 David Fri, 28 Dec 2007 21:42:42 +0000 http://thesocalledme.net/2007/08/08/little-paychecks/#comment-14028 "he issue of an allowance. We all got one as a child." Not all. Not I. Well, actually, during (grade)school I <i>did</i> get a nickel a day for milk. I found that if I saved that (and didn't buy the milk), I could buy comics, then trade (2 for 1) and after a while I had a going concern selling used comic books. Made enough to buy materials I couldn't scrounge around the house (mainly string of my own) to make my own kites, saved some for a new baseball every now and then, etc. That sort of thing (though not always comics--whatever was "hot" with the kids who <i>did</i> have an allowance--lazy buggers) pretty well carried me through junior high. Well, that and mowing lawns, doing chores for neighbors who either didn't have kids or whose kids were useless drones. What else did I need? We didn't drink pop when I was a kid; no junk food around to waste money on; games? Those were things we played <i>with people</i>, not things. Most of the things kids "need" nowadays... they don't. In high school--an allowance? Surely you jest. A job. “he issue of an allowance. We all got one as a child.”

Not all. Not I.

Well, actually, during (grade)school I did get a nickel a day for milk. I found that if I saved that (and didn’t buy the milk), I could buy comics, then trade (2 for 1) and after a while I had a going concern selling used comic books.

Made enough to buy materials I couldn’t scrounge around the house (mainly string of my own) to make my own kites, saved some for a new baseball every now and then, etc. That sort of thing (though not always comics–whatever was “hot” with the kids who did have an allowance–lazy buggers) pretty well carried me through junior high. Well, that and mowing lawns, doing chores for neighbors who either didn’t have kids or whose kids were useless drones.

What else did I need? We didn’t drink pop when I was a kid; no junk food around to waste money on; games? Those were things we played with people, not things. Most of the things kids “need” nowadays… they don’t.

In high school–an allowance? Surely you jest. A job.

]]> By: Sk*rt http://thesocalledme.net/archives/little-paychecks/#comment-13988 Sk*rt Fri, 28 Dec 2007 17:55:55 +0000 http://thesocalledme.net/2007/08/08/little-paychecks/#comment-13988 <strong>The great allowance debate!</strong> All about whether a child should get an allowance or not. The great allowance debate!

All about whether a child should get an allowance or not.

]]> By: Melitsa http://thesocalledme.net/archives/little-paychecks/#comment-1830 Melitsa Mon, 20 Aug 2007 13:53:46 +0000 http://thesocalledme.net/2007/08/08/little-paychecks/#comment-1830 I like the large jar idea. It's something we're planning on doing with the kids and matching the savings they do. Managing money when they are young is the best thing we as parents can help with as the bad mistakes are cents. There are so many ways to get into money troubles now than ever and they'll not be listening to reason or us soon enough teaching money values can be fun and starts them on the right path to finacial success. I found these two articles from raising4boys.com really helpful in understanding what to do and how it worked. Food for thought This is the original post http://www.fivecentnickel.com/2005/05/20/kids-money-setting-an-allowance/ This one is the follow up post http://www.fivecentnickel.com/2005/08/11/kids-money-tweaking-our-allowance-system/ I like the large jar idea. It’s something we’re planning on doing with the kids and matching the savings they do. Managing money when they are young is the best thing we as parents can help with as the bad mistakes are cents. There are so many ways to get into money troubles now than ever and they’ll not be listening to reason or us soon enough teaching money values can be fun and starts them on the right path to finacial success. I found these two articles from raising4boys.com really helpful in understanding what to do and how it worked. Food for thought
This is the original post
http://www.fivecentnickel.com/2005/05/20/kids-money-setting-an-allowance/

This one is the follow up post
http://www.fivecentnickel.com/2005/08/11/kids-money-tweaking-our-allowance-system/

]]> By: John Campbell http://thesocalledme.net/archives/little-paychecks/#comment-1750 John Campbell Mon, 13 Aug 2007 18:37:33 +0000 http://thesocalledme.net/2007/08/08/little-paychecks/#comment-1750 What we are doing with our 16 year son at the moment is making him earn it. But say if we agree $10 for a chore he gets $5 and we buy him clothes of his choice when he has enough. So if he wants to buy those training shoes that are 'only' a $100 he can. Doing this way it limits the amount of cash he has to spend on things we may not approve of like cans of beer or smokes. What we are doing with our 16 year son at the moment is making him earn it. But say if we agree $10 for a chore he gets $5 and we buy him clothes of his choice when he has enough. So if he wants to buy those training shoes that are ‘only’ a $100 he can. Doing this way it limits the amount of cash he has to spend on things we may not approve of like cans of beer or smokes.

]]> By: isawyournanny http://thesocalledme.net/archives/little-paychecks/#comment-1734 isawyournanny Sun, 12 Aug 2007 15:57:04 +0000 http://thesocalledme.net/2007/08/08/little-paychecks/#comment-1734 I think when you give someone an allowance, even if it is unduly generous, it teaches children how to spend,save and budget money. Ten dollars might sound like a lot initially to an 8 year old, but when she sees that it takes two weeks to pay for one CD, she learns a new appreciation for how much things cost. I think when you give someone an allowance, even if it is unduly generous, it teaches children how to spend,save and budget money. Ten dollars might sound like a lot initially to an 8 year old, but when she sees that it takes two weeks to pay for one CD, she learns a new appreciation for how much things cost.

]]> By: John Campbell http://thesocalledme.net/archives/little-paychecks/#comment-1708 John Campbell Sat, 11 Aug 2007 11:25:47 +0000 http://thesocalledme.net/2007/08/08/little-paychecks/#comment-1708 It is very important to start early. We use a mixture of an allowance and earning extra. The allowance is for tidying their own bedrooms or bringing their washing down . We offer them the chance to earn the extra by helping with bigger chores for example helping in the garden, and tidying the rest of the house. If the kids want a bit of extra cash for the 'latest must have thing' they ask us can I do a chore for x amount. I think this is why earning is important rather than just letting them have. It teaches them the value of money and the value of their own efforts. It is very important to start early. We use a mixture of an allowance and earning extra. The allowance is for tidying their own bedrooms or bringing their washing down . We offer them the chance to earn the extra by helping with bigger chores for example helping in the garden, and tidying the rest of the house. If the kids want a bit of extra cash for the ‘latest must have thing’ they ask us can I do a chore for x amount. I think this is why earning is important rather than just letting them have. It teaches them the value of money and the value of their own efforts.

]]> By: David http://thesocalledme.net/archives/little-paychecks/#comment-1698 David Fri, 10 Aug 2007 12:14:34 +0000 http://thesocalledme.net/2007/08/08/little-paychecks/#comment-1698 Allowance? Don't recall one of those things "back in the day"--*heh* Lunch money (for milk--carried lunch to school), yes. What did I need my own money for as a kid? Well, not much, and if I wanted something and it wasn't in the family budget, I just pined. Or I made it. My first kite, for example, was a disaster, but I made it. The next one was the envy of the neighborhood (some whittled-down sticks from our back yard, some string--bought with MILK money--sure, I went without some food for some string--and a dry cleaner's plastic bag. Outflew everyone else's--especially the "store-bought" junk.) Money for chores? Gee, never thought to ask. Doing the dishes, mowing the lawn, cleaning house: they all seemed like just being fair and chipping in when Mom and Dad both worked to feed and clothe us all (and Mom <i>also</i> cooked the meal we cleaned the dishes for). Being <i>paid</i> for doing our chores? Didn't come into the equation. And why would it? Still, for youingsters nowadays, I guess being paid something for doing chores is better than being given an allowance for doing nothing. Teenage years? Allowance? No: work. If I wanted something beyond food, clothing, you know, essentials, well I just had to work for it. Must have been a different generation. Call me an old phart, but giving a kid money just for <i>being</i> seems to teach the wrong lesson. Allowance? Don’t recall one of those things “back in the day”–*heh* Lunch money (for milk–carried lunch to school), yes. What did I need my own money for as a kid? Well, not much, and if I wanted something and it wasn’t in the family budget, I just pined. Or I made it. My first kite, for example, was a disaster, but I made it. The next one was the envy of the neighborhood (some whittled-down sticks from our back yard, some string–bought with MILK money–sure, I went without some food for some string–and a dry cleaner’s plastic bag. Outflew everyone else’s–especially the “store-bought” junk.) Money for chores? Gee, never thought to ask. Doing the dishes, mowing the lawn, cleaning house: they all seemed like just being fair and chipping in when Mom and Dad both worked to feed and clothe us all (and Mom also cooked the meal we cleaned the dishes for).

Being paid for doing our chores? Didn’t come into the equation. And why would it?

Still, for youingsters nowadays, I guess being paid something for doing chores is better than being given an allowance for doing nothing.

Teenage years? Allowance? No: work. If I wanted something beyond food, clothing, you know, essentials, well I just had to work for it.

Must have been a different generation. Call me an old phart, but giving a kid money just for being seems to teach the wrong lesson.

]]> By: tj http://thesocalledme.net/archives/little-paychecks/#comment-1684 tj Thu, 09 Aug 2007 23:36:08 +0000 http://thesocalledme.net/2007/08/08/little-paychecks/#comment-1684 I always got an allowance as a kid but when it came to for our little one, my husband made a good point. He asked"why are we going to <i> pay</i> her to make her bed? or help with dishes and so on?" His idea being that to do so would take away from family participation and helping just for helping sake. We opted to give her the opportunity to earn money by doing special chores. I always got an allowance as a kid but when it came to for our little one, my husband made a good point. He asked”why are we going to pay her to make her bed? or help with dishes and so on?” His idea being that to do so would take away from family participation and helping just for helping sake. We opted to give her the opportunity to earn money by doing special chores.

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