2 ms·

No kids myself but my parents did not give me an allowance. Instead, they were very transparent about our finances. We were situated in the lower-to-mid workin

No kids myself but my parents did not give me an allowance. Instead, they were very transparent about our finances. We were situated in the lower-to-mid working class, we have basics covered and some "fun money" but no vacations, new cars, little eating out, etc. If there was something my Brother or I needed (things we wanted but were not necessary were usually given as birthday/holiday gifts only), they would walk us through their thought processes on how they decided if they could afford it. They included us in the decision and explained how buying certain things would mean sacrificing others. We were also given money management tasks that were used for necessities. For example, we would be given $20 each to come up with meals we wanted that week at the grocery store. Same thing with new school clothes, sports gear, etc. They let us be decision makers but didn't hand us money to do with as we pleased. I also got my first job at 13 (farm labor), and haven't stopped working yet. I was always a little jealous of the kids who got $5, $10, or $15 per week to do with as they pleased - but I will say I feel like I've had a leg up on budgeting, saving, and general money management than many of my peers. If I have kids I will probably have some sort of similar system. I don't like the idea of giving away "free" money, and tying it to chores is weird to me because they are something that need to be done and won't ever be "rewarded" again after you're a kid.

skfroi 9y ago
I read this as if I would have wrote it. I never got an allowance but I mostly got want I needed and wanted within reason. This was basically determined by the chores I did and how much I generally helped in the house. My parents and grandparents always sat me down to do the monthly budget with them. I learned early on the way money flowed in and out of the household. That gave me a perspective on debt and credit that many of my friends didn't have. I did get cash on birthdays and holidays and on some other special occasions. Once I started working (around 13) that money was mine to do with as I pleased. There was a great sense of personal responsibility. I think that really helped me once I left my parents home at about 17. I have no opinion on the "free" money of not doing chores. All kids and families are different. I will say that having my parents be honest about our finances and not shielding my as much did help me in the long run.

skfroi 9y ago

I read this as if I would have wrote it. I never got an allowance but I mostly got want I needed and wanted within reason. This was basically determined by the chores I did and how much I generally helped in the house. My parents and grandparents always sat me down to do the monthly budget with them. I learned early on the way money flowed in and out of the household. That gave me a perspective on debt and credit that many of my friends didn't have. I did get cash on birthdays and holidays and on some other special occasions. Once I started working (around 13) that money was mine to do with as I pleased. There was a great sense of personal responsibility. I think that really helped me once I left my parents home at about 17. I have no opinion on the "free" money of not doing chores. All kids and families are different. I will say that having my parents be honest about our finances and not shielding my as much did help me in the long run.