Article about allowances...

Quote: His initial premise, he said, was "that kids who had a regular, nonconditional allowance, who could reasonably budget their allowance, would probably have the highest financial literacy scores," he said. "Well, it turned out they had the lowest."

Kids who received an allowance in exchange for chores scored slightly better, but the top performers never had allowances.

The pattern continues into adulthood, Mandell says. Studies by fellow researchers "showed that kids who got regular allowances were less likely to value the inherent nature of work. They were more likely to be what we would call slackers."

So giving money to people on a regular interval leads to them not valuing work and becoming a slacker? Who would have thought. Our government just keeps doing it though. Really teaching the value of a dollar.

It's like the kid who mows lawns for 3 summers to buy his first car when he turns 16. He takes good care of that car. With the exception of a couple speeding tickets because he's young, he pretty much a safe driver.

Then you have the kid that has his first car handed to him by his parents. Three months later he's wrapped it around a pole.

(08-06-2013 10:55 PM)blah Wrote:  Article about allowances...

Quote: His initial premise, he said, was "that kids who had a regular, nonconditional allowance, who could reasonably budget their allowance, would probably have the highest financial literacy scores," he said. "Well, it turned out they had the lowest."

Kids who received an allowance in exchange for chores scored slightly better, but the top performers never had allowances.

The pattern continues into adulthood, Mandell says. Studies by fellow researchers "showed that kids who got regular allowances were less likely to value the inherent nature of work. They were more likely to be what we would call slackers."

So giving money to people on a regular interval leads to them not valuing work and becoming a slacker? Who would have thought. Our government just keeps doing it though. Really teaching the value of a dollar.

Except this isn't a kid going to by some candy. It is an adult trying to buy some groceries while serving as an active duty soldier or working a full time dead end job

(08-06-2013 11:21 PM)Mr. Peanut Wrote:  

(08-06-2013 10:55 PM)blah Wrote:  Article about allowances...

Quote: His initial premise, he said, was "that kids who had a regular, nonconditional allowance, who could reasonably budget their allowance, would probably have the highest financial literacy scores," he said. "Well, it turned out they had the lowest."

Kids who received an allowance in exchange for chores scored slightly better, but the top performers never had allowances.

The pattern continues into adulthood, Mandell says. Studies by fellow researchers "showed that kids who got regular allowances were less likely to value the inherent nature of work. They were more likely to be what we would call slackers."

So giving money to people on a regular interval leads to them not valuing work and becoming a slacker? Who would have thought. Our government just keeps doing it though. Really teaching the value of a dollar.

Except this isn't a kid going to by some candy. It is an adult trying to buy some groceries while serving as an active duty soldier or working a full time dead end job

Or sitting at home having kids, smoking cigarettes and watching cable TV....

I've seen a lot more of #2 than I have of #1.

(08-06-2013 11:21 PM)Mr. Peanut Wrote:  

(08-06-2013 10:55 PM)blah Wrote:  Article about allowances...

Quote: His initial premise, he said, was "that kids who had a regular, nonconditional allowance, who could reasonably budget their allowance, would probably have the highest financial literacy scores," he said. "Well, it turned out they had the lowest."

Kids who received an allowance in exchange for chores scored slightly better, but the top performers never had allowances.

The pattern continues into adulthood, Mandell says. Studies by fellow researchers "showed that kids who got regular allowances were less likely to value the inherent nature of work. They were more likely to be what we would call slackers."

So giving money to people on a regular interval leads to them not valuing work and becoming a slacker? Who would have thought. Our government just keeps doing it though. Really teaching the value of a dollar.

Except this isn't a kid going to by some candy. It is an adult trying to buy some groceries while serving as an active duty soldier or working a full time dead end job

Why should I have to pay for someone else's bad choices? Let their family or church help them out. Why should I (at gunpoint) have to cough up some cash?

(08-06-2013 11:55 PM)UConn-SMU Wrote:  

(08-06-2013 11:21 PM)Mr. Peanut Wrote:  

(08-06-2013 10:55 PM)blah Wrote:  Article about allowances...

Quote: His initial premise, he said, was "that kids who had a regular, nonconditional allowance, who could reasonably budget their allowance, would probably have the highest financial literacy scores," he said. "Well, it turned out they had the lowest."

Kids who received an allowance in exchange for chores scored slightly better, but the top performers never had allowances.

The pattern continues into adulthood, Mandell says. Studies by fellow researchers "showed that kids who got regular allowances were less likely to value the inherent nature of work. They were more likely to be what we would call slackers."

So giving money to people on a regular interval leads to them not valuing work and becoming a slacker? Who would have thought. Our government just keeps doing it though. Really teaching the value of a dollar.

Except this isn't a kid going to by some candy. It is an adult trying to buy some groceries while serving as an active duty soldier or working a full time dead end job

Why should I have to pay for someone else's bad choices? Let their family or church help them out. Why should I (at gunpoint) have to cough up some cash?

+10

(08-06-2013 10:55 PM)blah Wrote:  Article about allowances...

Quote: His initial premise, he said, was "that kids who had a regular, nonconditional allowance, who could reasonably budget their allowance, would probably have the highest financial literacy scores," he said. "Well, it turned out they had the lowest."

Kids who received an allowance in exchange for chores scored slightly better, but the top performers never had allowances.

The pattern continues into adulthood, Mandell says. Studies by fellow researchers "showed that kids who got regular allowances were less likely to value the inherent nature of work. They were more likely to be what we would call slackers."

So giving money to people on a regular interval leads to them not valuing work and becoming a slacker? Who would have thought. Our government just keeps doing it though. Really teaching the value of a dollar.

Depends on how you do it. My kids get 1$ for every year old they are one time a month. It get's put into their spending cash. If they want anything above or beyond that then need to find work to do (beyond their chores)

Just like some NCAA schools wanting to pay their athletes.
A college education, free room and board, with steaks served to them is not enough.
Rich schools just want to ensure they can recruit even better.
WVU football coach said the other day that schools voting against giving his football
players cash were "starving their players". What a statement. Ridiculous. Probably
started with allowances.

(08-06-2013 10:55 PM)blah Wrote:  Article about allowances...

Quote: His initial premise, he said, was "that kids who had a regular, nonconditional allowance, who could reasonably budget their allowance, would probably have the highest financial literacy scores," he said. "Well, it turned out they had the lowest."

Kids who received an allowance in exchange for chores scored slightly better, but the top performers never had allowances.

The pattern continues into adulthood, Mandell says. Studies by fellow researchers "showed that kids who got regular allowances were less likely to value the inherent nature of work. They were more likely to be what we would call slackers."

So giving money to people on a regular interval leads to them not valuing work and becoming a slacker? Who would have thought. Our government just keeps doing it though. Really teaching the value of a dollar.

I've seen studies like this before. It always amazed me at the illogic used by "conservative" parents (or from conservative parenting advice sources) on why to give allowances w/o restrictions.

We don't give allowances, they are tied to chores...just like in a job. If they want extra money, they do extra chores. Also, we require our kids to buy their own candy, gum, video games. Because even if you tie allowance to chores, it doesn't teach the lesson if they get most of their wants given to them anyway.

Growing up my brothers and I never received allowance, and the chores were a typical part of every day life… but if we really needed something, Mom and Dad would acquire it.

That system worked fine within a family structure.

You mean to tell me that people tend to not take care for that which they didn't earn? Shocking.

Just so the kids don't buy drugs or something really stupid or dangerous it wouldn't
matter that much to me. My kids got what they wanted anyway. Never pushed an
allowance.

I'm just waiting for my kid to be old enough to cut the friggin' grass. I'll throw him a couple bucks/week to do that no problem.

(08-07-2013 08:28 AM)VA49er Wrote:  I'm just waiting for my kid to be old enough to cut the friggin' grass. I'll throw him a couple bucks/week to do that no problem.

Check with your wife first. They are their babies. He might cut a foot off. Don't push it. Mothers act like the kid, Ralphie, with a Red Ryder BB gun in "A Christmas Story". He may not shoot his eye out, but they will think that they would hate for an accident to happen.

Discussing it with her will get you a major award.

Correllation does not equal causation.

(08-07-2013 08:28 AM)VA49er Wrote:  I'm just waiting for my kid to be old enough to cut the friggin' grass. I'll throw him a couple bucks/week to do that no problem.

What age is appropriate? I waited until 13 for my older son.

Seemed like I mowed some before turning 13, certainly was responsible for it after that.

(08-07-2013 09:05 AM)DrTorch Wrote:  

(08-07-2013 08:28 AM)VA49er Wrote:  I'm just waiting for my kid to be old enough to cut the friggin' grass. I'll throw him a couple bucks/week to do that no problem.

What age is appropriate? I waited until 13 for my older son.

Seemed like I mowed some before turning 13, certainly was responsible for it after that.

I was thinking when he's strong enough to push the mower without killing himself. He's only 5 so I've got a while.