I’m not sure where she got the idea from but she’s been asking for an allowance. Thinking back to the days of when I got an allowance I very clearly recollect 25 cents and 50 cents. The reason I remember is because 25 cents bought either a bag of chips or a chocolate bar but 50 cents bought both. It must have been a big raise to jump from 25 to 50 cents each week.

I’m in favour of our children receiving an allowance with the following considerations:

• What is the right age to begin?
• How much is a reasonable amount?
• Are there conditions attached?

Growing up we had several jobs we were expected to do on a weekly basis to contribute to the running of the home and property. Because we lived in a rural area and had nine acres to look after as well as various animals there was a fair amount of daily work. We were also expected to help with larger, seasonal jobs.

An allowance may be appropriate for the period of time between when a child starts school and until they can be paid for work by others. Whether it be babysitting, cutting lawns or working in a store, restaurant or pool. I think a child is old enough if:

1. The child is able to contribute to running the home and family, and
2. Interested and able to learn and apply the concepts of money and money management.

Next post will discuss appropriate amounts and whether or not to attach conditions to payment!