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	<title>Comments on: Paying Your Child? Here are Six Ways to do it&#8230;</title>
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	<link>http://blog.greensherpa.com/index.php/personal-finance/allowance-and-the-art-of-paying-your-child-6-tips/</link>
	<description>Cash Flow Sherpas is a blog about personal finance, money saving tips, better budgeting, deals, tips, and tricks by GreenSherpa</description>
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		<title>By: Jessica</title>
		<link>http://blog.greensherpa.com/index.php/personal-finance/allowance-and-the-art-of-paying-your-child-6-tips/comment-page-1/#comment-1134</link>
		<dc:creator>Jessica</dc:creator>
		<pubDate>Mon, 16 Aug 2010 20:22:03 +0000</pubDate>
		<guid isPermaLink="false">http://blog.greensherpa.com/?p=1374#comment-1134</guid>
		<description>The issue I have with paying for chores is that it makes it okay for kids to decide not to do the chores when the money isn&#039;t that important to them.  I prefer a system that separates these things:&lt;br&gt;&lt;br&gt;1. Regular chores automatically go along with being part of a household--kids and adults alike have to do their part because that&#039;s how it works together. They are not optional, and they are not a means to a reward.&lt;br&gt;&lt;br&gt;2. Allowance is given for the express purpose of learning about how to use money.  In a sense, a small part of the family financial management is moved into the hands of the child, and this role expands as the child gets older.  The amount is determined by what you currently spend on the item yourself.  Say, start with toys or incidental treats.  Figure out how much you spend on these things, averaged over weeks, and divert that money directly to the child (and stop buying those items yourself).  This isn&#039;t &quot;free money&quot;--it&#039;s distribution of responsibility.  It sounds similar to your &quot;teenage incidentals&quot; budget.&lt;br&gt;&lt;br&gt;3.  Charity and savings can be worked in the same manner as discretionary income, with the same principle of diverting money in amounts you would have spent yourself, e.g., your child is given responsibility to determine how to spend 5% of the money you budget for charitable giving.  Making all of it transparent like this makes more sense, I think, then telling a child arbitrarily, &quot;I&#039;m going to give you $5 this week, and $1 has to go to savings, and $1 to charity.&quot;&lt;br&gt;&lt;br&gt;4.  Finally, I still think there&#039;s room for paying for &quot;bonus&quot; chores, which is where that price list might come in.  These would be chores that are not the child&#039;s regular responsibility, like washing the car, or cleaning the parents&#039; bathroom, or doing the parents&#039; laundry.  This maintains the opportunity to reap rewards for work and set goals.</description>
		<content:encoded><![CDATA[<p>The issue I have with paying for chores is that it makes it okay for kids to decide not to do the chores when the money isn&#39;t that important to them.  I prefer a system that separates these things:</p>
<p>1. Regular chores automatically go along with being part of a household&#8211;kids and adults alike have to do their part because that&#39;s how it works together. They are not optional, and they are not a means to a reward.</p>
<p>2. Allowance is given for the express purpose of learning about how to use money.  In a sense, a small part of the family financial management is moved into the hands of the child, and this role expands as the child gets older.  The amount is determined by what you currently spend on the item yourself.  Say, start with toys or incidental treats.  Figure out how much you spend on these things, averaged over weeks, and divert that money directly to the child (and stop buying those items yourself).  This isn&#39;t &#8220;free money&#8221;&#8211;it&#39;s distribution of responsibility.  It sounds similar to your &#8220;teenage incidentals&#8221; budget.</p>
<p>3.  Charity and savings can be worked in the same manner as discretionary income, with the same principle of diverting money in amounts you would have spent yourself, e.g., your child is given responsibility to determine how to spend 5% of the money you budget for charitable giving.  Making all of it transparent like this makes more sense, I think, then telling a child arbitrarily, &#8220;I&#39;m going to give you $5 this week, and $1 has to go to savings, and $1 to charity.&#8221;</p>
<p>4.  Finally, I still think there&#39;s room for paying for &#8220;bonus&#8221; chores, which is where that price list might come in.  These would be chores that are not the child&#39;s regular responsibility, like washing the car, or cleaning the parents&#39; bathroom, or doing the parents&#39; laundry.  This maintains the opportunity to reap rewards for work and set goals.</p>
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		<title>By: Bill Dwight @FamZoo</title>
		<link>http://blog.greensherpa.com/index.php/personal-finance/allowance-and-the-art-of-paying-your-child-6-tips/comment-page-1/#comment-1021</link>
		<dc:creator>Bill Dwight @FamZoo</dc:creator>
		<pubDate>Wed, 23 Jun 2010 20:26:39 +0000</pubDate>
		<guid isPermaLink="false">http://blog.greensherpa.com/?p=1374#comment-1021</guid>
		<description>We have a list of expected chores for our 5 kids, but we automatically deliver a set allowance amount each week because we don&#039;t want the hassle of checking off all the items they do each day. To save us time, we created a &quot;Chore Fail&quot; list that we check off when they DON&#039;T do their chores and it automatically debits their virtual allowance account in FamZoo. I think it addresses the &quot;free money&quot; concern that you raise without requiring too much bookkeeping around the chores (unless of course they fail to do their chores every day!)</description>
		<content:encoded><![CDATA[<p>We have a list of expected chores for our 5 kids, but we automatically deliver a set allowance amount each week because we don&#39;t want the hassle of checking off all the items they do each day. To save us time, we created a &#8220;Chore Fail&#8221; list that we check off when they DON&#39;T do their chores and it automatically debits their virtual allowance account in FamZoo. I think it addresses the &#8220;free money&#8221; concern that you raise without requiring too much bookkeeping around the chores (unless of course they fail to do their chores every day!)</p>
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		<title>By: Personal finance</title>
		<link>http://blog.greensherpa.com/index.php/personal-finance/allowance-and-the-art-of-paying-your-child-6-tips/comment-page-1/#comment-989</link>
		<dc:creator>Personal finance</dc:creator>
		<pubDate>Thu, 27 May 2010 08:14:02 +0000</pubDate>
		<guid isPermaLink="false">http://blog.greensherpa.com/?p=1374#comment-989</guid>
		<description>Money is really sweet when earned doing something rather that getting it for free. It is necessary to make children feel the importance of money when they reach around 8 to 10 years of age. Not burdening them, they should be given small responsibilities in the daily chores so that they understand the value of money.</description>
		<content:encoded><![CDATA[<p>Money is really sweet when earned doing something rather that getting it for free. It is necessary to make children feel the importance of money when they reach around 8 to 10 years of age. Not burdening them, they should be given small responsibilities in the daily chores so that they understand the value of money.</p>
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		<title>By: Tweets that mention Paying Your Child? Here are Six Ways to do it… « Cash Flow Sherpas &#124; A Personal Finance Blog By GreenSherpa -- Topsy.com</title>
		<link>http://blog.greensherpa.com/index.php/personal-finance/allowance-and-the-art-of-paying-your-child-6-tips/comment-page-1/#comment-983</link>
		<dc:creator>Tweets that mention Paying Your Child? Here are Six Ways to do it… « Cash Flow Sherpas &#124; A Personal Finance Blog By GreenSherpa -- Topsy.com</dc:creator>
		<pubDate>Thu, 27 May 2010 01:21:08 +0000</pubDate>
		<guid isPermaLink="false">http://blog.greensherpa.com/?p=1374#comment-983</guid>
		<description>[...] This post was mentioned on Twitter by sky gilbar, greensherpa. greensherpa said: New Article: Paying Your Child? Here are Six Ways to do it... http://ow.ly/1QqjJ #allowance #child #personalfinance [...]</description>
		<content:encoded><![CDATA[<p>[...] This post was mentioned on Twitter by sky gilbar, greensherpa. greensherpa said: New Article: Paying Your Child? Here are Six Ways to do it&#8230; <a href="http://ow.ly/1QqjJ" rel="nofollow">http://ow.ly/1QqjJ</a> #allowance #child #personalfinance [...]</p>
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