For years we've struggled with giving our children an allowance (or “commission” as some parents call it.) We were horrible about remembering to give pay them, and struggled deciding whether or not they even needed an allowance (as all of their needs are pretty well provided for!)
But as our eleven-year old is getting older, we decided that there is value in teaching our children how to wisely handle money while they're at home, so we started the “quarter system”. Basically, certain chores in our home earn our children a quarter. We keep three jars – one per child – on the kitchen counter where quarters are added as the chore is completed. (The larger jar holds loose changes that gets collected throughout the week to add to their jars as they earn!)
Here are the chores that earn them a quarter:
- Making their beds each morning.
- Unloading the dishwasher (each child is assigned a separate part of the dishwasher).
- Helping with complete other cleaning chores or yard work as needed.
- Hang up bookbags and put shoes away each day.
- Put folded laundry away in dressers.
- Set the dinner table.
- Help clean up after dinner.