Tweens and Allowance
Allowance Can Teach Important Life Lessons
Oct 2, 2008 Christin Aitchison
An allowance is the perfect tool to help your tween understand the value of a dollar. There are different ways to approach giving a tween an allowance. The choices should be based on the child and abilities. It is important for parents to remain consistent after deciding upon a system that works best.
You Get Out What You Put In
Allotting allowance on a “pay scale” is a great way to encourage your child to go above and beyond basic expectations. For example, set a minimum and maximum allowance amount. Your child will earn the minimum amount for taking care of agreed upon basic chores.
These could include taking care of anything that belongs to him. Chores ranging from making his bed, putting his laundry away and clearing his dishes could all be included. This is subjective and depends upon your child’s age and abilities.
If he chooses to do more than his basic chores, he could earn up to the maximum amount. These chores can include anything that you feel is above and beyond the call of duty, so to speak. The amount of additional chores should also be considered. How you choose to compensate is subjective.
In the “real world”, employees are compensated the same way. A job well done is rewarded with a raise and even a promotion. According to Jason Alderman, from the Practical Money Skills for Life website, “use allowance to teach valuable money skills.” This will easily translate to valuable life skills.
Protect Your Earnings
Now that your tween is earning an allowance, it is time for her to put it to good use. Your tween should be expected to use her allowance to purchase all of the “extras,” from that must have new shirt, to movie tickets, to an ice cream from the ice cream truck.
This approach will quickly teach the value of a dollar. She will begin to think twice about spending her hard earned money and will eventually need less and save more for the future. Your child will make some spending mistakes, but that is part of the learning process.
Respect Your Property
Children also need to learn that things are not always replaceable and should not be easily disposable. If your tween is prone to losing or breaking possessions, he must use his allowance to replace or fix them. When he has to foot the bill, he will certainly take better care of his things the next time! This should apply for all things, even down to the basics, like lost school supplies.
Pride of Ownership
Hopefully your tween will eventually earn the maximum allowance potential. When this occurs, your child will realize how good it feels to have accomplished a job well done. “Work around the house teaches your child that jobs and responsibilities are integral to life,” says Dr. Greg Germain, MD, in his article "Your Tween and Chores, Jobs, and Allowance," found at Kaboose.com.
Discuss with your child why he earned what he did. It is important for your tween to understand his contribution to the family. This will enable him to rise to the occasion again, or to strive to do better.
Earning an allowance is an important tool for any child. As tweens grow toward becoming a teenager, they will want more independence. The life lessons that an allowance can offer prepare them for this journey.
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