answersLogoWhite

0

I'd recommend setting the allowance based on what you think is reasonable for your child to purchase given your family's financial context - i.e., an allowance based on a simple concrete budget. Such an approach is less arbitrary, sensible to explain, and has the added bonus of introducing your child to the important concept of budgeting. For a young kid buying occasional trinkets, the budget might be expressed in simple terms like "1 pack of gum a month and 3 packs of Yu-Gi-Oh cards a year". For teens, I'd recommend having them budget and pay for clothing items, entertainment, and maybe a few other spend areas - base the allowance on the budget (factor in the charitable & saving targets too), not some arbitrary amount. It's educational for the child, and you'll actually end up saving money. Bottom line: give you kid a "budget" (fiscal discipline), not an "allowance" (handout).

User Avatar

Wiki User

15y ago

What else can I help you with?

Related Questions

How much money should a nine year old get for allowance?

They should get about 30 a month.


How much should a 13 year old get in their allowance?

13 year old should get 35 to 40 dollars a week or month


How much should a 10 year old get for there allowance?

I personally never got an allowance. But I'd think 10-20 dollars a week, depending on how much work you do.


How much allowance is normal for a 12 year old?

The most common approach in determining the right amount of allowance for a child is to use the age of a child. By that approach, a 12 year old should receive 12 dollars per week if a parent decides to give 1 dollar per year. Another important determinant is the family income and what the allowance is supposed to cover. Therefore, the allowance will vary.


What should a 12 year old get for allowance?

10 doolars a week is the norm


What is a good allowance for a 10 year old?

$5. because its not 2 much and not to little


What should a ten year old allowance?

15 dollars a week would be a good start


How much pocket money should a 3-year-old get?

About 5 dollarsAnswer 2A 3-year-old? A 3-year-old shouldn't get any allowance, except for maybe a few pennies or coins, unless it comes with instructions to save for a rainy day.


What is the average allowance for a 13 year old?

depends on the parents who are giving the allowance


How old should you be to get an allowance?

5


What is a normal allowance for an eleven year old?

£15


How much allowance should a 12 year old get?

The amount of allowance for a 12-year-old can vary based on family budget, values, and responsibilities. A common range is between $10 to $20 per week, which allows them to learn money management while still being age-appropriate. It's also important to consider linking the allowance to chores or tasks to encourage responsibility and work ethic. Ultimately, it should reflect what the family feels is reasonable and beneficial for the child's development.