Kids, Money and Entitlement

If you missed the first post start here, Teaching Your Child the Value of Money.

When does Entitlement Begin?  You hear that word a lot, ENTITLEMENT.  A lot of kids have entitlement issues.  They are so used to getting anything they want, they just begin to assume they can have it all.

I think part of the problem is as parents you never really set up how you will give kids money.  At what age you will start whatever it is you will give them.  Before you know it, you are giving your kids money whenever they ask.  They have not earned it, they just get it.

So back to my question, when does entitlement begin?  Personally, I think it starts with bribing your little ones when they start acting up.   Now, I am not going to tell you I never did it, I think every mom  has done it at least once.

When you start giving in or giving, they begin to feel a sense of entitlement.  How many times have you heard, “you let me get it last time.”

I think every parent needs to decide when it’s time to start an allowance for their kids.  The beauty of an allowance is the kids earn the money, then they get to spend it.

There are a couple rules that we have at our house.  First one, you are part of this family, therefore you must help out.  Why should I pay them to clean up a mess that they made?  Hmmm   I don’t pay for those things.  I do pay for extras though.

I really think once kids are in elementary school they should be able start doing chores and being paid for them.

What chores can early elementary do?

Dust
Sweep
Clean bathroom sink
Take laundry to laundry room
Pick up room

Chores for Older Elementary all Early elementary and

Set Table
Empty Dishwasher – help as they may not be able to reach all of it
Empty Trash
Vacuum
Load Dishwasher
Help fold laundry

By Middle School and on in to High School kids can do all the above and

Mow the Lawn
Do Laundry
Clean bathrooms
Help cook meals

There are 2 amazing things happening here.  Kids get paid and learn about money and they learn how to take care of themselves.  My son, when he was in 5th grade, said to me “I don’t like doing these chores, but I like knowing that I know how to do them.”  I promise you I didn’t ask him to say that.  It encouraged me as I was trying to teach them responsibility.

When I was in middle school I wrecked my motorcycle pretty bad.  My leg was bleeding through my jeans.  My brother said “don’t tell mom”  and we both looked at each other realizing she would find out because neither one of us knew how to do laundry.  Sad but true.

Now we have an idea of chores for the kids.  This is just a starting place.  You can add to it or take away depending on your child.

How much do you pay them?  Can you teach your early elementary child the value of money if you give him $50 a month for making his bed and putting his dishes in the dish washer?  Please tell me you said “no” to that.  You can’t.

Age appropriate allowance.  For early elementary $1-$2 a week is plenty.  Again, it needs to take awhile for them to earn something to really appreciate it.  And they will REALLY appreciate it.

My kids are in high school and they both earn $5 a week.  Over the years it has grown to this amount.  You might be thinking, wow those poor kids, how do they ever have money?  Well, if they want more money they are more than welcome to work for it.

How much money do you give your child when you go on vacation to Disneyland?  Check back and see what I did.

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Trackbacks

  1. […] back as I continue this mini series on Teaching Your About Kids Money.  Next subject Kids, Money and Entitlement.  I will even share how I decided how much spending money to send with them when we went to […]

  2. […] it out, the one thing I have been consistent with is not giving my kids money, and giving them a sense of Entitlement.  Also remember my kids do weekly chores all year long.  So even though, as a parent, I have to […]