Teens and Allowance
Some parents may wonder if giving their teens an allowance is the right decision to make. There are some pros and cons to giving teens an allowance, but for the most part, the pros seem to out weigh the cons. We will discuss how an allowance works, and several of the pros that goes along with giving your teen an allowance.
Allowance
An allowance is a certain allotment of money given at certain times for the recipient doing certain things. For example, a teen may have a specific set of chores or duties around the house such as doing the laundry, cleaning the bathrooms, scrubbing the floors, and/or mowing the lawn/yard work. These chores may need to be done on a weekly basis. Teens and parents can then keep track of the completed duties, and then teens can receive money per chore, per hour, or however else parents feel best about paying out the funds. It has been said that payment should be anywhere from five to ten dollars per hour, depending on the chore.
Parents often wonder if they should simply "give" their teen an allowance without expecting anything back in return. However, parents most definitely should demand something in return for payment. If they do not, teens get in a mindset that money and "things" should come to them easily and without hard work. By teaching teens that all things nice in life come with a price, teens will not feel entitled. Hard work for their allowance will only teach them fundamental lessons for their future life down the road when the most definitely will be required to work hard and provide for their future family.
One mother shares her experience about how an allowance taught her children fundamental lessons in life: "My three children began earning an allowance at the age of 12. Every Friday and Saturday, they would work on their chores, which we had planned a few days in advance. They knew exactly what was expected of them days in advance, and then they had two days to complete their chores. I paid them ten dollars a day, so twenty dollars per week. Sixty dollars a week may sound like a lot, but because of this system, I was hardly doing any of the housework, which was well worth it to me. My children enjoyed earning and saving money. When my oldest son turned 14, he decided to save his earnings for a year in order to attend the National Scout Jamboree in Washington, D.C. the following year. I was amazed at his dedication and desire to work hard to earn that money. He did it, and used that money (almost a thousand dollars!) to attend the National Jamboree. He said it was an experience of a lifetime. At a young age he learned the value of hard work. Today, he is in his second year of law school. I feel that teaching him those valuable skills at a young age and providing him with an allowance helped him learn amazing skills that he has transferred into his life today."
If done correctly, an allowance can teach teens important life skills that they will most likely use down the road.
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