May 15, 2009
How Much Allowance to Pay My 6 Year Old
Does age six sound too young to begin paying a child allowance? I don’t think so. Short of sounding like that annoying, my-kid-is-the-best parent, I know my kiddo is ready. How do I know? These are the factors I used to evaluate my daughter’s readiness to receive an allowance:
$ She brings home money-related worksheets from school (counting coins, etc).
$ She has a base knowledge of simple addition and subtraction.
$ She too often leaves out must-have toys that regularly meet their demise at the paws of two all-too-eager domestic tabby cats.
$ She regularly expresses an interest in buying or paying for things herself.
$ She way too regularly expresses an interest in me buying or paying for things for her.
There seems to be a divided view on the payment of an allowance. Some assert that it is best to give your child a set amount each week (based on age) that is in no way tied to performance or responsibilities around the house. The thought behind this is that your child will come to expect financial compensation of each and every household duty requested of them. I can understand and agree with this argument to a point. I am, however partial to the concept that an allowance shoud be earned. This is, in fact, the way the world works. I’m quite certain that I won’t be receiving a paycheck if I don’t work for it. So, I decided to incorporate a bit from both schools of thought.
The following are the key elements of the allowance contract that my daughter freely entered into (though she certainly could take a legal stance that the contract has no legs – making some petty ‘but I signed that as a minor’ arguement – I really don’t foresee any issues with the contract until she’s at least 7 – when she will most likely hit me up for an increase). Now, the main points of the agreement:
- $2 per week base allowance
- Potential to receive an additional $4 per week upon successful completion of required responsibilities
- Will receive one warning or reminder to improve her behavior or to complete her required duties. There will be no second warnings – a red card will be issued. (What is a ‘red card’ you ask? It is a card colored red – that’s it – no mystery there.)
- If three red cards are issued in any one week, the $4 portion of the allowance is forfeited. (She does still get the $2… She’s got to have something to work with if she’s going to learn anything, right?) ***NOTE: I was going to include a red card appeals process in the contract. This would allow my daughter to have her arguement heard by an external third-party individual. I felt a safeguard should be put in place in the event we ever became too power-hungry and unjustifiably dispersed red cards. My ex-spouse thought this process was unnecessary and a bit excessive – perhaps.
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