We have recently implemented a chores & allowance system in our house. Our girls have been doing chores for a little while but we hadn’t started the allowance mainly because we went sure what or how we were going to do it. But we have now figured out our chores & allowance for our children.
Chores & Allowance for Children
We decided on an allowance cap: $5 a week. My girls earn gems for their chores at $0.25 each. They have to earn their gems, I’m not forking over my budgeted money for no reason.
We are using candle holders to hold their gems, with scrapbook stickers for their names. The white retro milk bottle is where I have their gems stored. I bought that bottle because I love the look of with no idea what I was going to do with it.
The key here for you to remember is: this is how much my kids get, you decide what works for your family.
Austin’s chores: vacuum, clear the table, feed the dog in the morning.
Brookland’s chores are: feed the kittens, feed the dog in the evening, and clear the table.
But here’s the thing with their chores. I’m not including things that they are expected to do anyways for themselves such as clean their room, fold and put their laundry away, and such. Those are things they have to do. Its for them, so I’m not giving out gems for them.
What happens with their allowance?
Piggy bank. After a month, we’ll count it, and then they can choose to save half still in their piggy banks or spend it. The other half goes in their bank accounts to save.
I love that not only are they helping out around the house, but I also really like what they are learning. What they are learning for doing chores? They are steadily build a strong work ethic, and developing the basic life skills.
The best part of them earning an allowance and how we are doing it, is what they’re learning from getting an allowance, like how to save money and carefully spend their money. They are learning about bank interest – yes at 5 and 7 years old, when their bank statements come in the mail they open it and we talk about what is happening with their money sitting in the bank.