Ask Jean: Figuring Out an Amount for Your Child's Allowance - Jean Chatzky - Making money make sense
Jean Chatzky Facebook Jean Chatzky Twitter Jean Chatzky Instagram Search Contact Me


Hermoney iTunesHermoney SoundcloudHermoney StitcherHermoney TuneinHermoney Spotify

Ask Jean: Figuring Out an Amount for Your Child’s Allowance

Posted by Jean

iStock_000000499383XSmall(2)Jean: Loved the article in USA magazine. My question is: What are your children responsible for buying? Do they buy their own clothes, hygiene products, etc or is their allowance only for their wants and entertainment? How much do they get? We have friends that give their kids $150/month and the kids are responsible for buying everything. We give our child a small allowance but find ourselves dishing out more so we are trying to figure out how much to give. Thanks for the help – September

Hi September — Love YOUR name. My children are responsible for paying for entertainment, snacks and meals outside the house and gifts for their friends (which, if you have a teenage girl, you know is a lot) plus luxuries like clothing they don’t really need and manicures (again, teenage girl.). I basically figured out how much those things cost — $20-$25 a week and that’s what I give my kids. If you can say no to the dishing out without feeling like you’re leaving your kids short, you’re giving them the right amount. And for anyone who didn’t read the story: Here it is.