My kids got an allowance when, and not until, they learned to reliably count back change. This was as I recall at around 7.
The 10 year old gets 2 1/2 euro a week and the 8 year old gets 1 1/2 euro a week. They can also earn extra money by doing work above and beyond what is expected of a member of the family. Eldest is currently toying with handing out flyers in teh neighborhood for doing odd jobs, so he must want something big.
I never had an allowance. I don’t understand the concept of it very well… Getting money for doing… nothing?
Certainly, while I was in primary school (until 6th grade, 12 years old), I didn’t get any money, save for my birthday… and that money was immediately put into my bank account. Or, if it was like a $20 bill, I could spend it in foods, treats, a day at the movies…
If I was going out with friends (rarely happened), my parents gave me the money for the event, and that was it.
Later, when I was in high school, my parents would buy my textbooks, but if I sold them back used the next year, I was allowed to keep the money and use as I wanted. I could also earn extra money if I typed their documents (I’m faster at that than they are).
If my dad was feeling gracious and giving, he would give me a $20 bill… maybe every 2 months?
I got about $5 a week until I was in high school, then it was $20/day (my mother worked so we had to buy our own meals.)
My ex-gf’s parents had a great system. They gave her $100/month, and a checking account. She had to keep track of her own purchases and budget herself.
I never got an allowance, but I can see where it’s a good idea. It teaches kids to manage money.
I would give them their age, starting when YOU feel the child is able to grasp the idea of managing money. The whole idea of an allowence should be that the child is old enough to realize money value.
Our 9 year old gets $5/week. 7 & 5 year olds get bupkis. No rhyme or reason, except that the oldest has more chores & responsibilities than the other 2.
Our kids (10 and 7) get $2. per week as cash in hand, to be spent on whatever they see fit or saved. They also get $3. per week deposited to their bank accounts - the intent is that the bank money is the stuff to be saved for big things, like an iPod, a guitar, special dress, concert. So far, it’s been working out pretty well…
My son gets an allowance equal to his grade in shool (He’s in 7th grade now and gets $7/week). We didn’t start 'til he was in 5th grade. Prior to that he didn’t really ever need money. He usually has a goal that he’s saving towards, but spends a little of it at the convenience store on his way home from school.
I think I started getting an allowance when I was about 8. Something like $5 or so. My sister and I’s allowance, however, was always tied to chores. If our parents felt we didn’t do a good enough job on our chores, or we forgot to do some, a certain amount would be deducted from our allowance each week. That way we learned not only learned to manage our money, but that it has to be earned.