So, I read an interesting article the other day about giving children a certain amount of money every month to do with what they want or a Wage System. Basically, the object is to teach them the value of a dollar and to cut the ‘gimmes’ out of store trips etc. Instead of buying them a toy when they want it or just because, they have to save or use their cash to get it themselves. The idea is that parents purchase necessities with the exception of special times like holidays and birthdays. Jake and I really liked this idea and after a little chatting, decided to implement it with Addie this last week.
Obviously, this is similar to an allowance. Except, Addie isn’t getting paid for doing single chores. She is getting a certain amount for the work she does as a whole. She is a huge help with Piper and she does little things around the house as well as her own designated chores. She doesn’t have a chore chart anymore, and I really don’t have to tell her to do a whole lot. She is really great about taking initiative and helping me out in particular. So Jake and I agreed on an amount and each pay day, we give her the cash. We are of the opinion that in a family, everyone has to pull their weight at a certain point. We definitely feel like Addie does this, if we didn’t we probably wouldn’t have given this system a second thought.
The cool thing about doing it this way is that Addie can plan, which for her type-A little brain is a must. She has been wanting to start her own YouTube channel but the problem was she was wanting to review toys, and obviously that takes cash that we don’t always have. So this way, she can fund her hobby herself. We love that this is teaching her to plan, set financial and personal goals and make things happen for herself.
I think making this work for your family definitely would depend on individual kiddos. Who knows if this is something we will be able to implement with Piper at six or not, we will just have to see. She is a totally different human than Addie and we have a running joke that she will be living with us until I die. I just love the idea that just like an adult, Addie can look forward to her pay day every 2 weeks and set goals for herself. This seems like a really cool way to back her dream of a YouTube channel without handing her everything she needs to make it happen.
So what about you? Do you give your kids an allowance or is the wage system something you do? Sound off below.