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The Corner


Joined: 08/27/2007 Posts: 1040
Likes: 721

I paid my kids an allowance graduated with age, making it clear that the

allowance was not paying them for household chores, as I hear some families convey (I told them that their household chores was to contribute to the household in which they live), but that the allowance was for them to learn money management.

Once they hit high school, I stopped putting money on their "lunch card" and gave it to them in cash weekly with direction that that is for their lunch, for them to manage - and, hey, if they wanted to make a bag lunch and take it in, I'll not charge them for the bread/lunch meat and they can pocket the lunch money.

And when they moved off-grounds at dear ol' UVA, I gave them money at the beginning of fall and beginning of spring semesters for rent and food per what I'd be paying if they lived on-grounds. We reviewed together the makeup of the check amount I have them and they knew that they had to manage to last the semester. Live as high a life, or as conservatively, as they'd like, it was their fund to manage.

(In response to this post by NBHoo)

Posted: 09/25/2020 at 12:01PM


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Current Thread:
  Check out the stockpile app -- zee 09/25/2020 2:03PM
  Have him listen to Biggie "10 Crack Commandments" (Link) -- Ronald Mexico 09/25/2020 12:15PM
  This. The only advice you ever need. -- zee 09/25/2020 2:06PM
  Biggie knew a thing or two ** -- NBHoo 09/25/2020 1:49PM
  Compound interest. Rules. Everything. Around. Me. ** -- Guy Caballero 09/25/2020 1:48PM
  Make him pay taxes (not a political comment) -- peeweehooman 09/25/2020 11:44AM
  Seconded. This man knows of what he speaks. -- Wahooegger 09/25/2020 11:28AM
  Offer to "match" whatever he saves ... -- zeropointzero 09/25/2020 10:58AM
  I second this -- HoosGuy 09/25/2020 12:28PM
  Help him set up his direct deposit... -- The Venetian 09/25/2020 10:35AM

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