Do you want another way to do allowance than giving your kids money each week just for doing normal family responsibilities? *Get a free chore chart to help with allowance by subscribing to my weekly email.*
This way of doing allowance, based on Dave Ramsey’s approach, works well if you’re consistent with the chart and have the earned money ready to give to your kids that week. It has worked great with our triplets!
Allowance Chore Charts If you would like my chore chart, go to my homepage and subscribe to my Blog on the pop-up. Then the welcome box will have the simple charts listed: one is a sample chart I use and the other chart is a blank one you can fill out. If you are already subscribed to my Blog and would like a copy of the charts, comment below to let me know, and I’ll email them to you. After you print out the chore charts, tape them to the wall (more details of how to use them are below). If your kids are older, they might not need a chart, but you still should post the Bonus Jobs each week (explained below).
Weekly Expectations such as making bed, setting table, keeping room clean, etc., have to be completed to have the chance to earn allowance money from doing a “bonus Job”. There can be some encouragement and grace along the way with completing the chart as they get used to doing it each day. But, after several weeks, they’ll start getting the hang of it.
Bonus jobs are “extra” age-appropriate tasks our kids do to earn the money each week, such as dusting, wiping base boards, washing windows, pulling weeds, etc. At the beginning of every week, write one new bonus job on your child’s chart. They can complete it whenever they’d like that week. If your kids are younger, you might need to plan a time for them to do their bonus job and teach them how to do it.
Amount Decide how much allowance you will give your kids. Some people give $0.50 or $1 per year of their child’s age, and others give more or less. Put the allowance in an envelope, write Allowance on it, and tape it to the wall next to your kids’ charts at the beginning of the week. That way your kids will be motivated to earn it and can get their allowance after they have finished their weekly chores and bonus job.
When to start 5 to 6 years old is a great time to start teaching about chores, bonus jobs and money.
Create “Give”, “Save”, & “Spend” compartments using envelopes, plastic sealable bags, or a craft box with three compartments. Label each one Give, Save, and Spend. “Give $” goes to the church or a charity each week or month, “Save $” is long-term saving and goes in the bank at the end of the month for something they’d like when they’re older like a car or something else, and “Spend $” is for short-term purchases. Creating a goal of something to save for can also help motivate your kids to save. It is helpful to bring your kids to the bank to open an account if they don’t have one. You can get a print out of how much money they have saved so far to keep them motivated.
Verse I also have a weekly verse on the Allowance Chore chart. Memorizing it isn’t a requirement to earn money, but the first three weeks, I did tell them they got a piece of candy once they memorized the verse! (: Then, I stopped giving them the candy, but we’re still memorizing the verses together each week. I put the verse on the wall and we practice it in the morning. Using hand motions and singing the verses can help with memorizing them too. Let me know if you’d like the verses we’ve memorized this month by commenting below.
Percentages for Give, Save, Spend How to divvy out the money into the three categories, depends on the age of your child and if he or she has expenses. If your child is young and receives $3 each week, they could put $1 in each category to keep it simple. Or, if your child gets $5, $1 could go to give, $1 to save, and they could choose where to put the other $3 to give them accountability, responsibility and freedom. As our kids get older and have to pay expenses like car insurance or other expenses, your child could give 10%, and the saving and spending percentages can be adjusted so they are appropriate. See Dave Ramsey’s website for more examples and guidance.
While they’re young, what matters most isn’t the percentages, but that they’re getting a head start in learning to manage money.
How to use Allowance Chore Chart After your kids complete the bonus job listed that week, they check it off. I list my kids mealtime job on the chart to check off each day and rotate them each week. The mealtime jobs are setting the table, cleaning the floor after a meal, clearing/wiping the table off. I also have a space for a specific goal each kid needs to work on- one of my daughter’s is to keep her room picked up, my son’s is to remember to brush his teeth(!), and my other daughter doesn’t have one because she’s already doing those things. Each Saturday morning, we all do our weekly bedroom responsibilities listed on the chart which helps me a ton. Blast some music to make it more fun!
Have fun watching your children learn responsibility and the freedom that comes with managing their own money through Giving, Saving, & Spending!
Beautiful.Although, it doesn’t feel beautiful changing the 5th diaper of the day, cleaning up constant messes, carpooling to 20 places, or breaking up another sibling fight (while folding laundry), THAT is the definition of beautiful- doing it, day after day, minute after minute, and not giving up, despite times of monotony or frustration. Just as Jesus came to serve, let’s try to be examples to our kids of what it looks like to serve one another even when we don’t feel like it, so they can do the same. What’s a way you have your child help within your home? Do you use a chore chart, marble jar, or another idea? We’d love to hear!
Linsey Driskill 