Should Kids Be Given Allowances?

Allowance day is a day that kids look forward to. It is one of the most wonderful days for many children. All the chores a child must do to earn a pretty penny become worth it. Soon enough, all that money saved up from allowance might get a child that dream car that he/she has always wanted. If chores were not enough work, that child will also need to get a job eventually. Without chores, how would one know the responsibilities of having a real job? Would one learn the importance of saving money to buy the things he/she most desires? One may feel accomplished after completing his/her chores and earning his/her own money, but are allowances necessary for kids or given as a luxury?

On average, children start receiving allowances at the age of fourteen; however, many kids have started receiving allowances at much younger ages. Some may argue that allowances are a waste of time and money, and that kids will immediately spend all their money; on the other hand, studies show that an allowance can help children to demonstrate hard work and responsibility. According to an article entitled “Should You Give Your Kids an Allowance” by Denise Cummins, “In 1991, researchers Rona Abramovitch, Jonathan Freedman, and Patricia Pliner published a study in which 60 girls and 60 boys aged 6-10 years were given either $4 in cash or $4 in credit to purchase items in a store…those who got allowances spent the same amount, whether they were given cash or a credit card…I found this striking—receiving an allowance did indeed impact children’s financial responsibility, even at this young age.” Having an allowance is an excellent method for teaching kids how to budget their money. Victoria Artz, a sophomore, commented, “Since having an allowance as a kid, I learned how to save my money and how to manage it.”

Chores for kids may not be all that fun; however, it is a great way to earn some easy cash. Besides, when they already do daily chores, kids may have the incentive to do extra chores to earn more money. This teaches them that they have to work extra hard to make extra money. In agreement, an article entitled “Five Reasons You Should Give Your Kids a Monthly Allowance” by Vered Deleeuw, stated, “My kids receive $10 per month each, in addition to birthday and holiday gifts. They may also earn extra money when they do extra chores beyond their daily chores. Since we buy the basics, this gives them a nice amount of cash, especially if they manage to save.” Allowances allow kids to take a moment to make responsible decisions with their money. They will realize that they can quickly go from thirty to zero dollars in a second; so instead, they may choose to save up for more important things, the things they most desire. “When I was little, my parents wrote on the wall of all the chores I had to do and gave me a price on what I would make for each chore. It helped me learn to save up and what the difference was between need and want,” explained Amintta Ragavanis, a sophomore. When parents take a step back and allow their kids to make their own decisions, they are giving them the freedom and independence to be responsible with their money.

As one gets older, it becomes time to enter the big leagues and get a job. In most workplaces, teens can typically work at the age of sixteen; however, teens of fourteen or fifteen years of age can start working for no more than three hours a day and eighteen hours a week. By their freshman year of high school, most teens start looking for summer jobs. Through simple chores and budgeting money, teens already have the experience to become babysitters and counselors in training at summer camp. Soon, they will upgrade to waiters/waitresses, cashiers, and delivery men/women. Shania Durandisse, a senior, commented, “When you work hard, it’ll pay off. Learn to save when you’re younger because then you’ll know how to manage your money when you’re older.”

Kids should receive allowances because it teaches budgeting, responsibility, and independence. Children are our future, and we need to teach them life skills early in the game so that that they can thrive. Chores are a great way to earn extra money along with weekly or monthly allowances. Kids need to learn how to make decisions on their own, and an allowance will help them do exactly that. Receiving an allowance at a young age will help kids develop the life skills needed for a job and attain the career of their choice.