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We have decided that our daughter is old enough to be getting an allowance (ok, actually we are a little behind because she should have been getting it a year or 2 ago... but that's just the way timing worked out). BUT, along with an allowance comes the chores that currently is not nor has not been required of her.

We set the base rate of allowance at $1.00 a week, plus $1.00 for each year of her age.... example.... she's 8 years old... $8.00 + her base rate of $1.00 equals $9.00/week

We told her that she would get annual raises on each birthday. She will also be eligible to receive "paid vacation" in which she is allowed 3 week a year, any week so long they are not consectutive, that chores would not be expected of her but she'd still receive an allowance for the week. She will also get Sat. & Sun off along with her birthday.

Next we came up with a dividend schedule that she would be expected to follow...
Spending = 60% maximum, Savings = minimum 30%, and donations = minimum 10%.

Her mother & I will be her "bankers" and hold her savings money. Yes, she will collect interest from her "bank" and her money will be there whenever she needs it (in other words, we wouldn't "borrow" her money because we were running short). Savings account must be kept open at all times with a minimum balance of $25.00

For every $250.00 put in savings, she'd be awarded a $5.00 bonus of spending money, and will double the bonus from that of the previous bonus each time she doubles her savings... example... $250.00 = $5.00 bonus........ $500.00 = $10.00 bonus...... $1,000 = $20.00 bonus.... $2,000 = $40.00 bonus, and so on and so on!!!!!!

We assurred her that taking money away from her will never be used as a form of discipline in the event an action by her results in disciplinary action. However, for example, if she were to break a vase, then she will be financially responsible in replacing the vase, or if she chose not to do her chores on a week that wasn't her vacation week, then she wouldn't get an allowance. But if she were to get caught breaking a rule, or wasn't trying in school, then we wouldn't take the money from her as a form of punishment.

We also agreed to the possibility of spending bonuses based on school work, activities, and other projects

Now the interesting part..... the chores. She has 12 chores to choose from. She must complete only three every night of each week, whichever chore she chooses as long as she don't pick the same chores each week. There are 4 chores on the list that have a star next to them. A star chore must be one of her 3 chores each week. A star chore is a chore that she doesn't have to do each night... it just means that she does it a minimum of twice during the week, OR, as needed, OR when instructed by her mother or I.

The chores are:
1)pick up dirty clothes and place in laundry basket
2)empty trash cans in kitchen and bathrooms and place in trash can in garage
3)gather dirty dishes and place in dishwasher. turn dishwasher on when full
4)water the flower garden
5)Make bed
6)feed & water puppies- change pee pad
7)pick up toys that need to be put away
8)Read a story to Ashton*
9)help with preparation of some foods (toast, mixing cake or cookie batter) and pour drinks
10) pick up trash that may be in yard and dispose of properly*
11)vacuum living room and hallway only*
12)sweep kitchen and bathroom floor*

notice the stars (*)? She shouldn't have to sweep floors every night, nor vacuum floors every night. Those were the twice a week, or as needed chores i was talking about.

note: the dirty laundry doesn't include our laundry(8 year old girl don't need to be folding my underwear!!!!, and cleaning bathroom doesn't include the bathroom in our bedroom because she never uses it so why clean after us???)

I chose Read to Ashton as one of the chores she can do twice a week if she wants because of several reasons......... reading is good for little babies, outside reading is expected of her in school and for each book that she reads outside school assigned reading, she gets points. We have to sign off her readings. This is an "accelerated reading" program they have at the schools.

Now, the purpose of this program is to teach her responsibility, discipline, value of money and how to manage money, and love. This is a program that I developed myself.

HERE'S THE PROBLEM:

She wants to do the chores because she wants responsibility. However, she doesn't want the allowance.
:new_Eyecrazy:
:new_Eyecrazy: I've reiterated the importance of managing money and the importance of savings, and she still says she doesn't want an allowance. So, I've encouraged her to speak to her mother about it, and her mom is trying to get her to take the allowance....... my question is do any of yall have any idea on what we can say or have any idea what we can do? Would putting the allowance in saving be appropriate? What about saving so much, then buying saving bonds or investing it for her in a ROTH IRA or anything? ALL ideas will be greatly appreciated. Thanks
 

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I dont know! That was all confusing for me to read, so maybe it is confusing for her too! I have a 7 year old and she gets $7 a month spending money. She only has a few chores: dust, swiffer, vaccuum and take turns with her brother emptying the dishwasher. She is a competitive gymnasts so she spends most of her time and our money in that.
Maybe you should just put your daughters spending money aside for when she does find something big she wants to buy, instead of mixing it with her savings? Just an idea!
 

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Whew! That is quite an impressive system you have worked out! I'm still in awe because it's so complete and every detail is there. Since she doesn't want the money, it be put in a savings account for her later in life? Car, college, future puppies...? Honestly in my opinion any kind of saving is good...I still need to learn that lesson though
Sounds like you have a really mature little girl
 

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Discussion Starter #5
Originally posted by RexsMom@Jul 3 2005, 10:51 PM
It is really good to start saving habits young!  I didnt acquire that habit, I acquired the spending one!
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So did I!!! mom & dad tried to teach me how to save as a child, but I never did it, but then I learned from my own mistakes.
 

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take her to her favorite store...and if she wants something, you can say "its not a necessity...BUT..if you had an allowance--you could buy it".


and about investing...my sisters a financial advisor.. **this is what she says:

if you put money in a ROTH IRA--she cant touch it till she's 59 1/2 yrs old. she COULD borrow from it to buy her first house(no penalties...but has to pay taxes)...and in terms for her education...the BEST plan is the 529 plan. some states let you use it for deductions for your taxes..if you contribute to it. a roth ira wouldnt let you do that.

BUT..if you could open a custodial acct (minimum $1000) she could get an equity linked CD and what happens is the CD will grow a certain amount every year in line with the S&P 500 or the DOW without putting you at market risk. you have to pay taxes on the interest earned...at her tax bracket (which is probably 15%).

depends on what you want to use the money for. like first car or whatever she wants---use custodial. but if you do the 529..it would be in mutual funds. and any money that you take out of the 529 plan...if used for anything related for school---you dont have to pay taxes on it.

PM me if you want my sisters email if you wnat to talk to her more.
 

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My bf's daughter is 9. I dont' think she would ever decline an opportunity to make money...I don't know how to save money either so I don't judge her
 

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cynthia (my sister) is working at washington mutual.

i told her your whole post, and she thinks it'd be a cute idea to make it fun...like having a little book and stamp how much money she is deposting or withdrawing.

washington mutual also has a Can program or something...thats to encourage kids to save their money and stuff. and the kid can go into the bank and have their savings acct book stamped and stuff by a teller.
 

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This sounds way too complicated. Your child wants to be a child, so let her be a child. I am from the old school. I never got an allowance from my parents until I went to school outside the village and I needed to take a bus to get there. If I received money from somebody I could save it in a piggy bank and use as I saw fit. Believe it or not, when I started working I gave my whole salary to my parents until I was engaged. After that I kept my salary to save for our start up furniture and kitchen ustensils. I paid a certain amount to my parents for room and board. When I got married, my parents paid for half of the wedding (my husbands parents paid the other half) and bought me our bedroom. Same for my daughter, she never got an allowance before she left for school (boarding school) at age 15. The only difference is we let her keep her salary when she started working part time and going to college ( at age 18). But she had to make the payments on her car and buy her clothes. We put up the downpayment (for the car). We paid for college. And we paid for her wedding. I was never paid for doing chores, it was expected of me to help out and same for my daughter.
My sister has 2 kids. The boy was a spender and the girl a saver. Some kids, the more money you give them, the more they are going to spend. And other ones will save. All depends on their character.
 

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I don't have children yet, and I'm only 21. But I had a similar (although less complicated version) of your plan, and it definately taught me the value of a dollar. However, if money isn't an issue to her, than maybe you can discuss another form of "payment"? Is there something she likes to do or collect? Maybe she can earn points towards her chosen, desired goal- since it clearly isn't money. Just an idea...
 

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Wow, refuse money!! :eek: How does she do that?? I wish that I could ever get an allowance when I was younger....I would say save it until she gets a bit older!
 

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Hello

I found your post interesting, but extremely confusing and somewhat unnecessary. It sounds as if your daughter may be on strike. I would be, too. There are too many rules to follow. My allowance system consisted of $4 or $5 per week to spend as I wished. I did what my parents told me to do OR I DIDN'T GET THE MONEY. Frankly, I didn't care if I got the money or not because I knew I could crack my dad if a friend and her parents invited me to go somewhere.

What happens when she wants to go to see a movie or to an amusement park? Or what about when she needs new clothes? Do you pay for those or does she? She probably figures you are going to buy her what she needs anyway.

My advice is to keep it simple and think that maybe its not her who is being difficult.
 

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when did you have time to sit down and explain all this to an 8 year old without her wanting to go play/watch tv/hang out with siblings? this seems so crazy to me but maybe its because of the way i was raised. my parents also gave me an allowance but not until junior high school at which point i received 7 dollars a week and i had the option of taking the months worth (28 dollars) at once or weekly/bi-weekly, etc. this continued until 12th grade (12 dollars a week). i must mention i had everything as a child. my mother bought me most things i wanted and i don't recall really wanting something i never had. you may think i'm spoiled but i had a very happy childhood/adolescence.

i was a very reasonable child. i knew the concept of money at a young age even though it had been available to me all my life. my father would give me hundred dollar bills on random days of the week for getting good grades (i was always a 4.0 student)or just for staying out of trouble (i never experimented with drugs or alcohol). i saved this money from about age 11 when i opened my first joined bank account (savings) with my mother. from that point on i made countless efforts of depositing money in my account because i had reached the age where money mattered to me because there were things i wanted not because my parents had forced me to earn my allowance and save a percentage of it.

to make a long story short i had over ten thousand dollars the day i left home for college. this was a big accomplishment for me that was very rewarding. it made me feel very responsible and i came to school with the oppurtunity to spend however i wanted.

my point, however, is...i NEVER did a chore in my life. yes i made my bed but not because i was told to but because i saw my mother do it and it was encouraged behavior that was rewarded. i never had to empty a dishwasher, set a table, feed the dog, water the plants, but i learned responsibility by being given freedom to do things when i was ready. i started making my bed when i realized how nice it was to walk into a clean room.

my post in no way answers your question of how to get your child to want allowance (money) because i'm against the whole idea. i'm just so shocked to see how much time you have put forth to set these laws (chores) for your child to abide by at such a young age.

some friends of mine who were raised with chores and tons of pressure from their parents turned out very rebellious. every child reaches an age where they hate their parents because they are "ruining their lives" and for some kids this phase is much worse than others. some kids turn to alcohol, drugs, bad behavior.

personally, i think you should relax on the rules and let your daughter mature at her own pace (it seems as though she has done fine to this point). it also seems that she willingly does these things that you have put on your chore list. why make them a chore (which all kids will end up hating) if your child is willingly executing this behavior? instead you should reward her with love (hugs, kisses, time spent together). these things meant much more to me that getting 8 bucks from my mom and dad at the end of the week that could barely buy me a burger and fries.

instead of giving her money to do things around the house (that she already does on her own) you should give her money for each A she receives on a report card or each time she is given an award at school to honor her excellence. i got 50 dollars for each A in high school. and trust me by the time she is in junior high and high school she will want your money (even more than you are willing to offer).

i apologize if my post came off as rude/disrespectful. i just cannot believe the time and thought that has been put towards this "program" for an 8 year old child.
 

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I think you have a well thought out system.........for a teenager. But I think it is WAY tooooooooo complicated for a kid. She may be afraid to commit to the plan because she doesn't understand it. Maybe you should start with a very simple system and add to it as she grows in her ability to understand.
 

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WOW! That was one well-organized thought-out plan!
I was confused!

Great job Dad! I would like her to meet my eight year old son who ALWAYS asks how much "chore money" he will get when we ask him to do a simple task!

He doesn't get a set allowance, although we were contemplating a short/easy chore list for both of the kids starting in the fall. Both will be in school, and both need to take some responsibility. We are kinda random about when/how much money we give.

I am kinda on the fence about chores and allowance. My mother was
. I swear she only had children to have house slaves. Once my sister and I were old enough to do stuff around the house, my mother NEVER lifted a finger!


I feel like the children should understand that EVERYONE needs to pull their own weight around the house and help out. BUT, I don't like that they "expect" chore money from it. (Does that make sense?) Therefore, when my son innocently asks how much money he will get when we ask him to do somthing....I usually tell him...."You will get dinner, and a roof over your head, and decent shoes to wear, and cool toys to play with, etc...!"
I loose my temper.


I agree with a poster before that said maybe your daughter would rather trade the chores for something that she likes, rather than money right now. She WILL eventually want money...that is just a given....but maybe a certain toy or book or something would be a good trade off....if not, then heck, just let her do them for free!!! Feel blessed!
 

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Here I go showing my old school mentalilty again. No allowance around here but you do have chores. You don't get money for them, they aren't extra praise if you do them, they are part of living in this house. My son has made his bed every morning and cleaned his room any time he leaves to go somewhere and before bed since he was 3. You pick up after yourself, and help out all part of being in our family. You don't get paid for doing the right thing, you do because you know it is right and you don't have a choice. Now if he wants something special he will ask if there is a job he can do outside of normal responsibilities and he normally gets it. I don't want him to have the mentality that in order for him to do something he needs to be rewarded or he won't do it, children don't have that choice around here.
 

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Originally posted by dhodina@Jul 4 2005, 09:17 AM
I don't want him to have the mentality that in order for him to do something he  needs to be rewarded or he won't do it, children don't have that choice around here.
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Somewhere along the way, we have given our son this impression!
Daughter isn't SO bad...but could get that way.
Can they just come live with you for a month...you train them back to normal...and then return them to me?
 

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First I have to just say I am very impressed with how organized your plan is. I was almost lost trying to follow it.

We don't have children yet but plan to soon. I am not sure what's best way to raise kids but I can tell you what doesn't work from personal experience. I never had an allowance (but I was raised in a relatively poor household). I never had chores to do because my mom did everything - the result is that my sister and I are LAZY!! My poor mother worked full time and did everything at home ... we were just encouraged to study, which we did, but if you look at my apartment now, its a complete mess. So, I think kids definitely need to do specific chores and allowance I think is not mandatory (I agree with dhodina completely).

My husband was raised in a wealthy home but his mom thought children should be slaves and had a non-stop list of chores to do (kind of what tlunn said about her mom). He also never had an allowance. The result is that my husband is just about as lazy as I am. I am really not sure why...I hope we will be neater for our kids.

I guess this doesn't answer your question. But maybe your daughter just wants you to get things for her when she wants them? Its great that she wants chores to do!!
 

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I think it's a great plan!
I also have a very mature 9 year old daughter and here is what we have worked out for allowance:

She has a notebook (left on kitchen desk at all times) and for every chore she does for me she writes down the chore, I intial it and at the end of the week she gets 25 cents for every chore listed. Half of the money is hers to spend on anything she wants, $1.00 for church, and the rest is savings. She has been a great help with taking Abbey outside to potty ~ to my daughter that's an easy 25 cents!!


We started this system about 6 months ago. My sister has an only child who has been very spoiled and at the age of 18, she is not very responsible and doesn't even know how to wash clothes. My daughter at age 9 not only knows how to do laundry but loves doing it. (she doesn't do all the laundry - just a load here and there). I think it also teaches them that nothing in life is free. You earn what you want in life by how hard you work.

I say Keep up the good work!!
 

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She has a notebook (left on kitchen desk at all times) and for every chore she does for me she writes down the chore, I intial it and at the end of the week she gets 25 cents for every chore listed[/B]
How much do you get paid for the chores you do for her ?

Sorry, I don't agree paying kids to do chores. And I don't think it's a good idea. They are part of a family and they should pitch in to help like every body else in that family.

I never had chores to do because my mom did everything - the result is that my sister and I are LAZY!! My poor mother worked full time and did everything at home ... we were just encouraged to study, which we did, but if you look at my apartment now, its a complete mess.[/B]
You are not lazy because your mom did everything. You are now a grown woman and you recognize that your appartment is a mess. Maybe if you would care more to have a neet appartment you would not be that lazy -_- I don't particularly like cleaning house, but I do it because I hate a messy house. What I want to say, is even if your mom would have made you do chores, you would not necessarely like doing them and you probably would still be lazy especially if nobody (like mom) is behind your back nagging at you to clean up.
 
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