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[quote=Anonymous]When my kids learned how to count money, they got $1 per week for allowance (in change that they had to count out).  That money was theirs, along with any birthday/Christmas money they were given.  Chores were not specifically required to earn the allowance, but they were expected to do chores as a matter of course to help their family.  The allowance was something we chose to do for them, but it wasn’t guaranteed and could be (occasionally was) suspended.  Moreover, it meant that if we felt there was something they needed to pay for (You deliberately broke your sister’s toy, you need to replace it), they either had the money saved up that they had to turn over, or we garnished the allowance until the debt was paid.  If they wanted to earn extra money, they could negotiate doing chores over and above normal expectations for extra money.

We generally provided them with some spending money, but expenses over and above that were up to them.  So, for example, we might say we would give them $20 for souvenirs on a family vacation, but anything beyond that they’d have to use their money.  We’d buy them clothes, but if they wanted something extravagant, they’d have to make up the difference between what we considered a reasonable budget and what a particular item cost.  For the annual school book fair, we’d generally give them $20 for books, but if they wanted more, they had to cover 1/2 for everything over $20, and we’d provide the other 1/2, and miscellaneous posters and tchotchkes the bookfair sold, they could have whatever they wanted to pay for, but we wouldn’t contribute.

Having their own money they learned that they could spend it now on things they wanted a little, but then they might not have the money later for bigger, more expensive things they wanted a lot.  They grew up to be relatively frugal.[/quote]

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