How We Handle Allowance for the Kids | Vlogmas #6 

When I was growing up my mom did the same and I do with my kids as well they get a set amount then can earn extra for the other bigger things they do. My daughter (17) really wants an iPhone 6 reg ($299) she has been saving for a while and asked for money for Christmas ($100) instead of gifts. Because she's made the effort to save $200 I obviously want to help her out. What she doesn't know is that I seen the phone for $99 on black Friday so I picked up and I'll give her that for Christmas and in the end she'll get to save her 200 for something else 😊

I wish my parents did this with us. We didn’t learn these lessons until we were in our 30s.

I bet your kids appreciate things more, when they buy with their earned money. Our kids had a sense of pride when they bought with their earned money. I think your doing AN AMAZING job with them!!! Have a great day!

I love this approach. I’ve always been very against giving your kids an allowance, but I think this is a smart way to do it.

I love this and it's very similar to how my own mom handled allowance. The other thing my mother did I really thought was brilliant was that she really encouraged reading so she would supplement our allowance if we were spending it on books (she'd pay for half). I learned very quickly this could go a REALLY long way if I bought used books. When I was in Middle and High school I was going through 2-3 books a week I read so much.

I love this video so much! Helps with math skills and sets them up for “real” life!! Great parenting!! 💛 I’m sure their teachers thank you!! Lol

So happy I went back to check out your old videos! This is a gem😀

awe I'm so proud of her. wow she's grown so much.. seems like in a flash.. great ideas. and I love how you explain things so well thank you

This vlog was awesome! To show your children the value of the financial aspect of life is a very important life skill not covered in typical education. I wish I had been this diligent with my own grown children. Many kudos to you!!!!

How I wish my parents had taught me about money as a kid. I’m very fortunate in my 20s to not have had big financial problems but it has been a challenge to learn things like delayed gratification and the value of money when it’s on a much larger scale. You have some very lucky kids!

Love this concept.. especially teaching deferred gratification and the value of money.. an important lesson not taught much these days I don’t think!

Love you singing the till debt to us part theme lol this is a great video. I'm doing this with my kids when they are old enough.

I absolutely love this idea, and just FYI I think y'all are simply awesome parents for doing this. So many adults haven't mastered this concept yet, so yay and go you❤️😍

MOTHER OF THE YEAR!! All these little things you do with your kids inspire me!

I would love to see an updated video on this. If you do anything differently and how well this did throughout the year. If you adjusted it in any certain ways. ❤ your videos I have learned so much from you in the last several years.

Great video. You are bringing them up to respect money. It’s a life skill that is so simple yet so overlooked.

I love the fact that you're teaching them about money but more so about responsibility. Awesome Job!

I think this is such a great way to teach your kids. I can’t tell you how many adults don’t even know the basics about money and how to save. I used to work in banking for 15 years and I would try to teach people how to manage money. Such a great tool!!!

Such a great learning experience. I think I'm going to start this with my children. Thank you Christine!!

Love this. My kids are grown but we did something similar and it is a great way for them to appreciate money. Thanks you

I apologize for the length of this, but I feel as though I should give credit where credit is due. I recently subscribed to your channel about a week ago. While I may be a tad slow in getting through the videos that appeared to be of interest to me, I wanted to leave you heartfelt, genuine feedback. You are definitely a "diamond in the rough" with regards to videos in RU-vid Land. RU-vid is my guilty pleasure, and I typically fixate on tech reviews, Real Housewives old episodes, and homemade videos of people with lavish lifestyles. While those hold a degree of entertainment, you and your family are as real and as genuine as they come. I love your honesty/transparency with what kind of money RU-vid brings to your family, how you budget, cook, and spend money. In my humble opinion, I think the VAST majority of people watching your videos WISH they were more like YOU than the fancy people doing fancy things. It takes hard work, discipline, and sacrifice to put your family on a path of financial freedom. However, the most important thing to me (as an educator), is the lessons you are teaching your kids about financial responsibility. In one of your videos (can't recall which one) you shared an experience of when your daughter was young, you didn't enroll her into dance class- even with the instructor reducing the cost for you. You were very honest with your recall about what that financial choice could have done at that given moment. I think the vast majority of (Americans) wing it- spend whatever they can charge and hope that they don't lose their job, or that their credit line doesn't get reduced! I wish you and your family the very best, keep doing what you are doing- you are setting a terrific example of how to be a responsible adult!

This was super helpful. I have been trying to figure out a way to teach my kids about needs and wants. I like the jar Idea. I may be implementing something like this in January.

Thank you so much for this video. It really helped me figure out a plan for allowance for my son. ❤️❤️

Girlfriend!! I LOVE this!!! You're such an amazing mom!!! This is toooooooo incredible!! ❤️❤️❤️

Just bought that duvet cover,love it,another great video would love to see a financial goals video for the new year,im sure you have one in the offing🤗

Thats awesome! I wasnt taught as strict as you but at 16 I had to have job and pay for car insurance, gas,extra clothes etc. Trust me,you are doing a great job because my hubby brothers struggle with money problems because no one taught them. Your kids will be so much better off,trust me!

I love that you do this and love your channel! Thank you!

When I saw a video where you talked about how they had to spend their own money on their needs, it made me sad. (I just wondered how far it went, like toiletries, food, clothing..?) But NOW, I understand more. You are a very smart mom (and I'm sure the wife of a smart dad also..) Your kids will benefit immensely from this. They are already so far "ahead in 'The Game' ". 💙

I think you are teaching your children a very valuable life skill by having them use their allowance for purchasing their own wants and some of their needs. By doing this they have a better understanding of what is a want and what is a need and knowing that just because they may want something doesn't mean they need to purchase it right away. I feel that if more adults these days would have learned that in childhood they wouldn't be in so much debt now. I am a new subscriber and am enjoying your new videos and going back and watching old videos also.

one of best vlogs yet, going to try and apply it to my own family although things in UK are becoming increasingly cashless.

My kids have always had chores..part of living here. Since they have started working, they split their pay 3 ways. They keep 1/3, 1/3 goes to their savings account and 1/3 goes to the household. We pay that toward their cellphone and car insurance bills. Amazing pushback at first because all their friends get their whole paycheck to spend. Once they saw how their savings accounts were growing, different tune!

This is so smart! They will appreciate things sooo much more and have an understanding of money and how fast it can go also! I want to do this with my son :) He’s only 3 but I should start around 5 with little “chores.” He already likes to help me clean 😊

Thanks for breaking this down. I'm thinking of starting this or something similar with my kids. ❤

This is so inspiring! Your youngest is 7 and does this? That's great! I'm just about to become a mom, and these are definitely skills I would like to teach, especially since I got burned badly myself when I turned 18 and all of a sudden had control over my own money, but not a ton of money management skills. So cool!

Even though i am unmarried i love your videos and your meals help me alot in meal planning for office everyday

I love this idea. I never thought about teaching my kids to be charitable with money, I just always thought about giving with time. I’m going to have to steal this idea

I would've been ahead of the curve had my parents did this. They were terrific advisors in my early adulthood though. But thats a whole lot to learn with much higher stakes. It's great of you to put this out. I'm certain many young families will benefit!

This is awesome! You are great parents 😀

Think your system will sreve them well in the future. Wish I had done the same thing. Great job!!

I do this in this way.. I love it.. Im so proud and happy cause some are big now and work well with money!! Im a proud mom

I applaud you for teaching your kids the value of money and how it is used. When our kids were growing up we supplied their needs (as parents should) but being as I was a SAHM our income was small so I bought them what we could afford. When our daughter turned 16 and got her 1st job it was at a sporting goods store. I continued to purchase her needs but when she wanted name brand clothes and shoes, those she had to purchase herself. Every time she wanted something expensive she thought long and hard about it first. One day she said she would have to sell "x" number of sneakers to buy the 1 item she wanted. THAT was the day that she appreciated what we had been teaching her all along. LOL

I took your idea with my two youngest ones. One jar for saving, one for school saving (college,university) the other for spending. Half goes in the savings and the other half is split between the other two. We do it weekly for them.

Absolutely love this.

Encouraging them to save 50% of their salaries is such good advice. My mom told me to when I just started working after uni and it was so worth it because you get to save up for when your on your own 100%

We do about the same with our 12 yr old daughter. I remember the first time I took her shopping with her savings... everything was expensive for her. Before she didn't even looked at prices. That day she came out of the store only with some gym shorts that were on sale for $5!

Oh man, I 1000% agree with turning forty and forgetting everything!! That is so me!!

Love this. Such a good idea.

I enjoyed this video. It was very informative. Thank you!

I appreciate the work you put in. Lots of love in here. lolz

I love this idea and I am going to try it.

It's shocking to see how many teens are incapable of making change these days. Kudos to you and your hubs for creating this allowance/budget system for your kids.

This is fabulous!!! Great job! Wish my parents had taught us better!

Are we going to have a grocery haul anytime soon? I looove it !

This is brilliant 🤘

This is a wonderful lesson in finances

I need this system as a kid. Now I run a multi million dollar business and budgets are everything. Must but budgets in place and stick with them.

My parents made me do chores and I'm glad they did. I don't remember getting an allowance but they would give me money if I needed any. I know when I was in college I would help pay for gas in my car and oil changes. I would also help pay for books for college since I worked. My parents paid for my college education and I appreciated but even more since I paid some of it. They bought my first car so I didn't mind helping since they didn't charge me rent while going to school. My dad always wanted to give me things and pay for my stuff even after getting a good job. I told him no that it would not help me learn and be independent.

This is a great life learning skill, should be taught in schools. Many schools don't -- which leave kids even in highschool not able to cope with money.

Love this!

I am currently on social welfare payments in Ireland due to mobility issues and my mum would payfor my weekend break/up to €80 of ny Christmas present and i give her €50 a week in addition to €50 a week towards bills to repay. It will take a bit for me to settle financially but its essentially the same as what you are teaching them. Keep up the good work.

very great video on dealing with spending, allowance monies

You are a good mom ...my 4 grandchildren do not help their parents ..when asked to help they begin to bicker ....what a headache !,

Thanks for the great ideas.

they will probably think about what they want more and appreciate it

For save vs spend, how do you teach them that savings is not money they can just use along with their spending money?

We do Something similar, and then at about age 9 or 10 are Local Credit Union has a kids checking account with an actual debit card we switch to rap not solely but to help them understand how to budget and balance without the physical cash

Can you elaborate on what chores they are responsible for? I have a 10 almost 11 year old and I’m wondering what chores you have your kids complete. We do dishwasher, putting away clothes, sweep bedroom, and make bed daily

Did you ever do a follow-up to this video? I'm curious how it worked out for your family.

I love the jar idea! Two quick stories-- my kids are getting their first adult jobs and no longer live at home. I have scheduled each of them a session with our financial planner as a Christmas gift to give them the information/knowledge I don't have regarding investments (that's why I have a financial planner!), Secondly, my husbands parents took 50% of his allowance and later paycheck for the entire time he lived at home and then gave it all back to him in a lump sum with interest when he moved out. He said it felt harsh but was super grateful to have a nice amount in his account when he moved out. Have a great day!

Great idea.

So many good lessons, so many great skills learned- you should honestly teach parenting classes!

Nice job mom and dad. Hummm do need the mixer or want. Can be both? lol.

My parents started when I was really little. I would get 15 cents a week. 5 cents was for church, 5 cents was for savings, and 5 cents to spend. When kids are older you can also try to calculate what you spend on things like shampoo, toothbrush/paste, deod, things like that. Add that to the allowance and have them buy those things. Just gives them more money to work with and especially for girls that like to shop - Haha. Often adults forget to add into their budget things like toilet paper, cleaners etc and this way they will remember it isn't just rent and food that adds up.

I might encourage Hayley to maybe look for a nice family restaurant to hostess/waitress at! My parents own a family restaurant and we grew up working there and I can’t tell you how many 15 year olds got jobs there that got them through college and beyond! You end up making way more then at a minimum wage job and it’s hard work that makes you really appreciate education and a desk job haha!

Ah-mazing!!! Just wondering what made u use cash instead of a debit card???

If I were a kid participating in a system like this I would save clothes that I grew out of and sell them to a younger sibling.

How often do you sit like this? Every 2 weeks?

Great to teach kids about money.

Brilliant

This is an awesome idea, I have a question though how would you do for step kids that are only with you every other weekend and only Friday night to Saturday at 4pm? I’m having an issue on deciding what would be fair and how to do it for my step kids.

Are you still doing this allowance approach?

I know that this video is already old, but I saw in another RU-vid channel that there are special investment accounts for children precisely to save (and invest their money) for something like college (but not necessarily). The accounts are on their name and they are not allowed to touch it until they are over 21 years old. I think this would be also a good idea for your kids.

This is really cool!!! I love this idea. What age would u think it would be good to get them started?? My kids are only 3 and 5 so I'm not sure how Yoing is too young

I’m sorry, maybe I’m a little late for this question, but what is the saved jar for? Is there a specific purpose, or are they just required to save a certain percent? I think my kids would have a problem with the save jar, that is why I’m asking. Otherwise, it would all be spent or given away! 🤗 thank you in advance.

They'll take care of things better in the long run. By the way wait till your fifty eight and try to remember things. Your fine you have four kids a house a job a husband and a dog. Cannot forget your blog your are super busy.

How young were they when they started doing chores and earning money... 4? 5?

What do you do with money gifted to your kids? Does it go in the jars?

what age would you suggest starting kids on this type of setup? Have you seen success with more of the 12 year old versus the younger ones for example

At what age do you recommend starting this? I feel like my 2 year old is too young but he does have a couple of chores as well.

My family never had allowances.

Will you be my mommy? What a great thing to teach kids. Great video!

When I was growing up, we couldn't afford an allowance for me. However, by the time I was in high school I wanted to be vegetarian, so my mom gave me money to manage my own grocery shopping. I had $30 a week to buy all of my school lunches, snacks and any dinners I wanted that were different than what she made. Eventually I stopped being a vegetarian, but the budgeting skills stuck!

Question about the savings: are those off limits no matter what? So if they want something or maybe even somewhat need it and don't have enough in their spend jar, can they dip into their savings? If so, do you have them pay themselves back so to speak? I ask this because i NEED to instill all of these values with my 7yo. Desperately. Delayed gratification is something she just can't get and i think having tangible money will help. However, knowing her, she will tell herself that she "needs" an item more than she does and would just use her savings if she didn't have enough to spend. I get that a huge part of this is them learning on their own through their own decisions but especially in the beginning, should i just let her blow her money on whatever or do I try and convince her not to? Sorry for all the questions but I really want to do this with my daughter and I want to make sure I don't mess it up! Thank you!!!

Money money money money🎵🎵

My daughter use to poke fun at me for looking at clearence.... Untill that one time she had 4 bucks and was going to buy candy but then she found a lip smaker watch in clearence and was shocked she could buy it with her money. Right now I'm in the process of teaching my kids tax....

This is my experience.. When I was kid (elementary), I really love to save my allowance.. I never use it to buy things or snack at school... And my siblings always use their money.. When my "piggy bank" full, I ask my mom to save it at bank.. One weeks later, I asked for receipt.. U know what she said..?? "what about things u eat?? I use it to buy groceries" Since that day, I never save any money that I got.. I always used it for something that have no meaning.. Toys or spend it with my friends.. I always thought that "why should I save it when later they'll use it? Not for me, but themselves".. Until this day, I find its too hard to save money.. #broken English..sorry😣😣

I think this is great I wish I would have done something like this for them. Wait till your 60 brains are falling out everywhere.

❤❤❤❤❤ Hi friend. ☺

I know it’s not popular to say, but the tithe actually brings a curse bc it’s OT. The money for giving should go to people; the actual kingdom of God. Would be cool to see them saving and helping a family w food or buy some single mom tires for her car or help someone you are praying for and see it as an evangelism tool. God builds families, not corporations.

Why do you encourage your children to give to church ? Most churches receive money from the government and give a little back to the poor. How do you think they finish up with millions of dollars worth of assets .