Once children hit the teen years, the decision to continue an allowance may not be easy. The rule we have made in our home is that until they get their first job, we will continue with allowance. The reason for this is so that they can learn the value of a dollar and how to save.
They will still be expected to do those chores even after they get their first job, however. After all, I don’t get to quit helping out around the house just because I have a job. So the need to pitch in as a family is still important.
Currently our oldest son, who is 16, is looking for a job. So it will be interesting to see how this plays out once he realizes that he is still expected to help out with chores.
I think an allowance is important because it’s a tangible way to learn money skills. I have heard that in some families as children get older they will increase their allowance. I personally don’t follow that mindset. That’s because I assign a value to each chore.
If a chore is worth a certain amount, the value doesn’t really go up. However once they hit their teen years they do have opportunities to earn extra money doing things that are above and beyond their normal chores. For instance, this past summer my husband paid our 16-year-old to whitewash our fence.
Our teens have also been given extra money to wash cars, mow the lawn and pick up sticks in the yard. So there are opportunities for them to earn more than they typically get in an allowance.
I know some will argue that children shouldn’t be paid for chores. Honestly it’s the best way I have found to get the help I need and to teach them the importance of money.
Now when my children want something, they understand that if they keep spending their allowance right away they won’t be able to get that extra game or have extra money for the arcade at the movie theatre. These are important lessons.
Do you give your teens an allowance?
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