Summer - posted on 04/24/2010 ( 16 moms have responded )
So, my son, Derrel, is 9 1/2 years old and does a pretty good job about helping out around the house, but has to be told what to do. This year, I have been letting him ride his bike to school. . . then he started asking for money so he could stop at the store. . . I want him to be able to have money at times, but I do not want him thinking whenever he asks mom for cash he will receive!!
Allowance is not a foreign concept to Derrel, and I mentioned it to him so I could control the cash flow I have going out to him. Consistant help at home would be nice for me!! (As a FT working, single mom of 2, I do not want to spend every evening and weekend doing chores!! I know you feel me!) He is usually pretty good about saving his money, but tends to buy all his friends things, and when he was 7 even had $50 stolen at a sleep-over (showing off his money no doubt!)
What is the going rate for allowance now-a-days?
I want to suggest that I put half of the money into his own savings account and he gets half to spend how he wants. Does this sound appropriate?