Current Events > What's a reasonable allowance for a 7 year old?

(+) Yeah! (+)

Just trying to get a rough estimate on what other people pay their kids. Obviously it would be based on chores and whether or not he completes them.

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$3.50

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My allowance was "you get to live here and eat" even though the second part wasn't always true

myztikrice posted...

$3.50

He's not a god damn Lochness monster.

Herodopus posted...

My allowance was "you get to live here and eat" even though the second part wasn't always true

Part of the reason for him getting an allowance is an attempt to teach proper money management and fiscal responsibility. Something I neither my wife or I had growing up so we want to try and prevent our kids from making the same mistakes we did.

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IfGodCouldDie posted...

Part of the reason for him getting an allowance is an attempt to teach proper money management and fiscal responsibility. Something I neither my wife or I had growing up so we want to try and prevent our kids from making the same mistakes we did.

good idea

Depends more on your budget tbh.

Should definitely be less than mom and dad get in spending money to give it room to grow with age.

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5 bucks a week? Thats probably way too much but Im too lazy to deal with loose ones and change. Two bucks a week seems about right. Hes 7. Hes going to lose half of what you give him anyway.

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IfGodCouldDie posted...

Part of the reason for him getting an allowance is an attempt to teach proper money management and fiscal responsibility. Something I neither my wife or I had growing up so we want to try and prevent our kids from making the same mistakes we did.

does he play video games? work out an allowance that'll let him get one within 6 weeks if he doesn't blow it on random crap.

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My parents would give me 12 bucks a week for completed chores, seems reasonable looking back idk

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0 wtf

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Do they do any chores/work around the house. Build it around that.

Every time you complete your weekly list by Friday every week, youll get like $10 or something like that. Do what the one guy said and tailor the amount to force them to save for stuff they really like.
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A roof over their head and food in their stomach

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not getting an ass-whooping.

lol jokes aside, maybe like 5 bucks or something...

I've been giving my kids their age in allowance, so the $7 year old gets $7 a week.

I also haven't been directly tying their allowance to chores. They have chores they need to do, and lose video games or something if they don't get them done, but I don't want them to expect money just for doing stuff around the house that they should be doing anyways.

If your goal is money management then it needs to be a small enough amount that they need to save to get things they want but big enough that the saving process doesn't take so long that the whole thing feels pointless.

A seven year old probably doesn't want too many really expensive things. But like if he typically wants 15-20 dollar toys then something like $5-7 bucks is reasonable. It will take three weeks of dedicated saving to get there. Gradually increase it as he ages because he should also build up the patience and money management skills to save up for an buy more expensive things.

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Food and shelter

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I got a dollar a day, but not at 7.

With inflation it seems reasonable for a 7 year old these days

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I also agree that chores and allowance shouldn't be connected. Because some week your kid is gonna decide that not getting $7 is worth not doing chores and I can't imagine you as a parent would be cool with that

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I gave my daughter $5/week when she was that age

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Compsognathus posted...

I also agree that chores and allowance shouldn't be connected. Because some week your kid is gonna decide that not getting $7 is worth not doing chores and I can't imagine you as a parent would be cool with that

Dont give your kid money for nothing. Thats just teaching them to live on government assistance.

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myztikrice posted...

$3.50

i'm so slow.

used to seeing it in letters and when i heard the words in my head i laughed

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Compsognathus posted...

I also agree that chores and allowance shouldn't be connected. Because some week your kid is gonna decide that not getting $7 is worth not doing chores and I can't imagine you as a parent would be cool with that

...So you punish the kid when they don't do their chores lol

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5 dollars per chore if they do it right if not nothing they have to learn responsibility

$0.25

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googs19 posted...

I've been giving my kids their age in allowance, so the $7 year old gets $7 a week.

That's actually really good.

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myztikrice posted...

$3.50

I see what you did there.

Never got an allowance as a kid. Maybe like 5 bucks a week for doing chores or something? Guess its smart to teach them money management now since teenagers dont really manage their money since all their income is disposable. But then again what is a 7 year old going to buy?

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googs19 posted...

I've been giving my kids their age in allowance, so the $7 year old gets $7 a week.

I also haven't been directly tying their allowance to chores. They have chores they need to do, and lose video games or something if they don't get them done, but I don't want them to expect money just for doing stuff around the house that they should be doing anyways.

This. A dollar per year. Thats what my parents did with me for a while. Then when I turned 13, started having to work for my dad(had his own painting business) on weekends and during school breaks and summer to earn money.

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R1masher posted...

Food and shelter

This. Give them a dollar or 2 for doing actual work.

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OffTempo posted...

Never got an allowance as a kid. Maybe like 5 bucks a week for doing chores or something? Guess its smart to teach them money management now since teenagers dont really manage their money since all their income is disposable. But then again what is a 7 year old going to buy?

Bazooka zooka bubblegum

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$10,000

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Lonestar2000 posted...

$10,000

Do you have sugar children? You're so desperate for a kid, you just parent someone elses for a ridiculous fee lol.

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$5, I'd say.

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