We've been paying commissions for 7 months now and it's working extremely well. Some weeks the boys may only earn $1-2, and on other weeks, they earn their full potential of $9 (for the 9 year old) and $12 (for the 12 year old). Our goal is to teach the boys that you do your work, you get paid. You don't do your work, you don't get paid. There are some weeks where the work is not optional...I won't let them go 2 weeks in a row without cleaning their bathrooms!!!
Their birthdays are coming up this fall and it'll be time to update the chore chart and give them different responsibilities and tougher jobs. Some of their current jobs (like taking the trash cans out to the curb for instance) will now be expected of them and they won't earn money for doing it. I'm still thinking of what changes to make. I'm considering having my youngest be more responsible for his laundry and my oldest to be responsible for dinner one night a week. Definitely things that a 10 year old and 13 year old will be capable of.
Something else that I'm giving a lot of thought to is having my son manage more of his expenses. I need to see what is involved in opening a checking account with a Debit card for a 13 year old. There are recurring expenses that he has that my husband and I pay for: Guitar lessons, Cell Phone Bill, School lunches, etc. I'm thinking of giving him the money at the beginning of the month for these things...it would be about $180/month and then having him pay for them directly out of his account. I'm thinking if I can start small with just a few items, then each year add more to it that he's managing.
For those of you with older kids, have you tried this and how has it worked for you?
4 comments:
I don't have kids, so can only comment about my nephew and niece.
When your kids age they also enjoyed giving to charity and 'saving for the future'.
My sister also taught them how to cook, declaring that no-one deserves a useless partner in life.
They are not perfect but these life lessons have stayed with them.
My nephew now is 18 and has his first full time job. Before he got his first wages he set up a standing order payment for a deposit on his first property. He has had some fun too, but doesn't splurge. He bought himself a laptop and a gecko.
He is saving to come to Africa with us next year, which again has meant putting x amount of his wages into a savings account each month.
My niece saves but loves buying gifts for others and cooking her mum a meal.
She is always raising money for charity.
I am very proud of them both.
Sft x
Oh I meant to add the right amount of responsibility builds a child's character and they crave it if not given
(I speak as a youngest child you clowned around and had nothing expected of her-now I'm Head of the Lower school, my job is full of responsibility. I wish I'd had it earlier).
Hugs
Sft x
I have a gazillion kids, but we don't do allowance, they can earn items/money from helping out and doing extra chores, but when it comes down to it we just don't have the extra $$ to go around each week to every kid. I think your plan sounds good though! Good luck!
I'm not sure you can set up a bank account until the child is at least 16. That's when my older daughters started a checking account. I don't give out allowances, although I pay my son to mow the lawn. They have their regular chores, and my daughter could babysit if she wanted money. They have their own savings accounts from money given to them for birthdays, Christmas, etc. If they want something, it comes from their savings.
I used to give out allowances, but I agree, it should correspond to something they do extra. Next summer both my son and daughter should have part time jobs...which I'm hoping will be put away for college!
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