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I didn't explain it to my 8 year old daughter the way that I posted it, and after everyone said that the post was difficult to read, i re-read it, didn't have a hard time reading it because I knew what i was saying and what i meant, but Traci was like "Oh My!".

Simplified version should have read to do 2 chores 5 nights a week, and another chore maybe once or twice during the same week and allowance will be set at age plus one, giving raises on birthdays. I came up with a dozen chores so she could pick from. Out of all the chores, if she chose 3, then the amount of time spend would not take longer than 30 mins for all 3 chores.

No she would not be expected to take her spending money and buy her clothes, shoes, food, school supplies, or any other necessity that parents provide. Yes, I will pay for her ticket at a movie, and yes I'll buy her another bike when she outgrows the one she has now.

The intent is to teach her to learn several things....
*discipline and responsibility
*value of money
*help her count, add, and subtract (she's having a small problem in math)
*it gives her 30 minutes a night to do other things than being a couch potato. she like to watch TV alot and play on laptop while on couch.

one of the chores was to read to our little boy. I read to him just about every night of the week. But, there are times that I work a night or two a week.

If she read 2 chapters to him out of a book, then when she got done reading the book, then we can sign her off on her excelerated reading program that she is in school. It's a mandatory program that all 2nd-4th graders participate in. She's an excellent reader, and I hope our little boy grows academically like she has!!!!

She gets wonderful grades (for the most part), and we do reward her for it!

As far as helping out around the house....

She has always picked up after herself and made her bed, so I thought that it would be easy for her. Her mother taugh her to be like that at a young age, even before her & I started dating. BYW: Cheyenne is my step daughter, but notice, I've NEVER referred to her as a "step". She is my daughter and I love her just as much as Ashton, my biological son. Yes she knows her daddy. He calls her every day, gets her every weekend, and she goes to visit him during the week.

I also thought that it'd be a good way for her to explore all the possibilites available and feel good about doing something.

Earning money is not my goal for her......... it's to LEARN!!! Education is a valuable thing, and it is something that you can get, always have, and no matter what, no one can ever take it away from you.

Her mother and I have agreed that provided she is responsible enough and CONTINUES to do her best in school, then we have every intention to buy her a car when she gets her license or maybe let her drive our car until she graduates then buy her a car.

I have greatly appreciated all the responses from each of you. I've learned alot.

talk to you next post!!!
 

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I think you have a great plan. We started something similar with both of my teens at age 12. Each quarter they receive 100 dollars in a savings account. This money they can use as they want to but they must save 20% and donate 10% minimum. These funds are used to do things like go to the movies with friends, but a friend a b-day gift, concert tickets, miscellaneous clothing items such as band t-shirts or to help with gas money for a friend who drives (this for my 17 year old son)... things like that. at the beginning of each school year we buy them clothes and shoes and all the school related items they need and then again when summer starts we do it again. We pay for all NEEDED clothing and family activities... when we go to the movies or a festival as a family. They pay for things they want that we don't deem necessary or we think are overly expensive. They get a 30 dollar bonus for an A/B report card each semester or 50 dollar bonus for a straight A report card. Each birhtday they get an increase of $10 per quarter. This is to teach them financial planning and the value of money. They both have household chores they are responsible for and are age appropriate: they do their own laundry, clean their bathrooms and bedrooms, and help with other things around the house such as dishes, garbage. If they don't do a chore the don't lose money, but they lose something else such as computer time, or maybe being "grounded" until the chore is done. These are the chores we all do as being part of a family. They can earn extra money by doing something outside the norm like washing my car or helping to stain the fence.

Now to my point... when we first started doing this my daughter didn't want the money either, but I still put it in her account. Soon she wanted a new CD player and we explained that she could use HER money to get it.. no questions asked. Soon she was on a roll and now enjoys managing her own money, she is quite good at it. My son on the other hand spens most of his as soon as he can and then pouts when he cant buy a new CD half way through the quarter because he is almost out of money. He is getting better though and this makes me happy :>)

I LOVE YOUR PLAN! I wish I would have started sooner with my kids.... so my opinion is to put the money in a savings account, give her a " bank book" so she can see what she has and sooner then later she will ask for something that you can use to explain better how the program works, maybe it will be a birthday gift for a friend or she will see a charity she wants to make a donation to.

Good luck... you sound like very good parents and she is a lucky girl!

Judi
 

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Tiki's mom...
I like your idea too...the quarterly plan, instead of weekly...and it goes straight to the bank!
 
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