A recent survey at CNN highlighted that American kids are getting $15 a week for allowance. I thought that sounded a little high and was curious what you’re doing for your kids’ allowances.
My wife and I haven’t totally been on the ball with respect to allowance with our kids. Our oldest is 8, and while we reward him with a nice Lego set or new toy when he gets a good report card or finishes his piano recital or whatever, we haven’t had a consistent weekly cash allowance program in place. He does ask about money and we talk about money, saving, interest and stocks and such at a basic level, so he’s getting some education, but I think we could do more with a formal allowance for chores type arrangement.
Interested in your thoughts – How is Allowance Handled in Your Household?