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Children and Allowances

Paycheck or an Entitlement?

By Laura Lyster-Mensh

Many parents increase the allowance as a child matures, and at the same time add to the categories of things a child is expected to pay for. For example, a high school student might begin paying for school clothes out of his or her allowance as they take on the responsibility of driving and shopping on their own.

There are also families for whom allowance is never instituted. Karen*, a mother in Virginia with four teen and adult daughters who has never paid allowances, says, "The policy in our house is don't spend it. If you need it, ask, and you'll get it if it's not ridiculous."

In addition, sometimes the family budget does not allow for giving extra spending money.

Families often use allowance to teach the values they learned from their own parents. In this way, continuity between generations adds to the importance of the custom.

One attorney and financial expert with two young children says her family is following family tradition in their approach. Allowance, in her opinion, is "a good idea" and is tied to age and some chores around the house.

Doris*, a grandmother in Alexandria, Va., whose two sons have long since left the nest, recently reflected on her experience and feels now that allowance is about more than what the child can get with the cash in their hands. She feels allowance also teaches that "they can't always have what they want."

The debate over allowance is not likely to stop soon and is one most parents feel strongly about one way or another. It's simply up to you to decide what makes sense and works best for your family.

* Names have been changed.

Want to see more?

• Check out our Article Library.
• A Job Well Done! The Art of Delegating Chores to Your Children
• Raising Financially Savvy Kids
• Paying Preschoolers? Determining If Your Child Should Receive an Allowance
• Talk about it!