How much should I pay my 9 year old and 6 year old allowance for chores?
First, I think it is commendable that you want to give your kids the opportunity to have allowance and thereby learn to manage money. This is an essential skill in growing toward one day being a responsible adult. Although there are many ways to handle the allowance issue, we followed one suggested years ago in a Consumer Reports issue and had great success with our children learning to be responsible, discerning consumers and realistic about money. Following their suggested guidelines, we gave each child a dollar per year of their life until the age of 8, per week. This should be adjusted depending on your financial means. At age 12, we upted it to twelve and then added a dollar per year until they were at $15 a week. Following their suggestion, we did not tie any allowance to chores. Chores, we explained, are done by everyone in the family and are part of being a member of the family. This was extremely successful, because we NEVER were asked by our children like some of our friends
