Are Childhood Allowances Awesome or Unnecessary?

It's how I learned the value of a dollar.

it teaches children abut money....saving, earning, and spending

well it lets me buy stuff myself then NO ONE can find out what i buy

some children knw how to save their money

Much better to teach them how to manage money of their own than to beg mommy and daddy to buy them things. It's even better if how much they earn is directly connected to how much they help out around the house (within reason, of course).

But they have to work for it not just give em cash.

I wish I got one when I was younger. I got my first allowance at 14.

lol.not the right one. Had to read twice the question XD

It's better for your children to get used to paying with money.

If combined with the requirement that the child/children work for it in some way (pick up their room, set the table, clean up after themselves, etc.), then it reinforces their thinking that responsibility is rewarded. It also gives them the opportunity to learn about money and become financially independent -- i.e., they can have the toy they've wanted for months IF they save up for it.

If used correctly they teach a child how to handle money and responsibility.

They can be both. If you make the Child or Teen work to earn it then it can be helpful but if you give them 20 dollars a week for just sitting there watching tv then it's unnecessary.

although they should have to do hores for it so that they start
learning to earn

An allowance is good under curtain conditions such as the kid gets good grades and helps with chores. I think an allowances helps them feel rewarded for their efforts. This will help them adapt to a capitalistic culture that they inevitably will have to partake in. So you might as well train them young on how to earn money.

It helps young children and so forth learn the advantages of saving money. By the time kids are in middle school or in high school, they'll have a fortune; that is if they are that dedicated to save that long. Also, in case of a family emergency, the kids money could help out financially, but that's if the emergency surpasses that extent. My siblings earn an allowence every week and they've learned so much about money it amazes me!

Peace, Love, Belive***

It teaches discipline in spending which is needed later in life.

Awesome, but unnecessary. Kids can live well enough without allowances, after all.

It's a good way to teach kids the value of money, as long as you don't give it to them for nothing (a reasonable amount for their age as long as they do their chores). Along with that, children who get allowances should not be handed everything they want just because they ask for it. You know, if they want to go to the store and get penny candy, instead of buying it for them, let them pay with their allowance. Instead of thinking of it as paying for them to be part of the household, think of it as giving them spending money so they don't have to beg you while simultaneously limiting the amount of "extras" that you pay for (because if they're taught not to ask and use their allowance, they'll beg less). Furthermore, you shouldn't continue giving your kids an allowance once they're old enough to get a job.

I didn't have an allowance when I was a kid (though my grandmother loved giving my brother and me money during summer vacation to spend on sweets). But my parents would buy the extra things (like candy) that we asked for when it was reasonable. (My brother and I were far from spoiled, and very well-behaved in public). It wasn't detrimental to us, and because of that I see an allowance as an "extra" thing-- I don't see it as necessary, but I understand the value in it as a lesson for children.

Why would I pay someone for simply being in the house? Sounded a little like welfare to me; so I didn’t pay any of my kids an allowance.

Once they did approach me however, and stated that they felt they should have an allowance; they cited the various chores they did around the house, as proof they deserved money for their work. I nodded in agreement, and handed each a $5 bill; and told them, this would be their payment for chores completed during the week.

The next morning, I charged them $1 to cook their breakfast; they all kind of looked shocked, and I said: “Well, if I’m going to pay you for chores around the house, you’re going to pay me for the things I do around the house.” They all went back and just handed me the $5 bill back.

However, with that said, I did often pay them for doing extra things around the house, outside the norm. All three of my boys, have said now, in their adult years, that lesson taught them more about the value of money, and the responsibilities of living in a house than anything else.

I love that. XD

They did well despite you being a with holding person. Great.

Despite; implies that I did something wrong; are you saying they would have done better if I had instead given them money for completing things around the house?

No one pays me: to cook, to the laundry, wash dishes, sweep floors, fix light switches, unclog sinks, or split wood. I have to do those things, or my house will fill up with dirt and grim, and fall apart. People must take care of the area they live in, pure and simple; so I saw no reason to pay them for things they have to do in order to survive.

The fact that it worked however; shows me that despite all the new theories on how to raise kids; I did the right thing.

But my wife has got to stop spoiling my children with toys.

Since when is punishment the only consequence for actions!

There are a couple of problems with this. The biggest problem is parents who pay their kids for doing nothing. It makes them feel entitled to pay, even though they did nothing to earn it. I do believe it is slightly better if a child is given some type of allowance for doing household chores and such...however I believe this is still bad. I don't think a child should be taught to expect money just for being part of the family.

Meh, it can go both ways. It teaches them the value of money, but it also is used to motivate something they should be doing, regardless. I suppose that doesn't have to be a negative thing. I was more of a saver, so I tended to get what I wanted because I didn't have a lot of wants to begin with. Allowance taught me that I can make my parents owe me money rather the other way around.

it teaches kids that you have to work for what you want.

It actually depends. If the kid does work around the house (chores) then yes. I never did chores, and never got an allowance, but I went and did work and got money.

I got one until age 13.

It teaches kids about working for your money and saving it for what you want...

Free money, me likes.

if its done right, it can teach the value of hard work

I think if you use the opportunity properly it is a learning tool. You teach children responsibility by doing chores and then they get compensated -- same as when they get older.

It taught me a lot about responsibility and that money does NOT grow on trees!

When it's a reasonable amount of money, it teaches kids about money-management. And it's even better when they have to earn it through chores. But if people give kids $50 a month for nothing, they're just spoiling them!

children should not be paid to be part of the family

I never actualy had one because my familly was dirt poor but i do see the value in having one.

I see their value, but they're not essential.

ofcourse it's a awesome...it helps theme to control there money pouket when they growUP