Sasha and Malia's allowance: Is Dad being cheap?
Everybody’s talking about a fiscal stimulus package to pull the country out of recession, but a recent article on kiplinger.com argues that first tweens Sasha and Malia deserve a stimulus package of their own.
Barack and Michelle Obama have been quoted as saying they give their daughters a dollar a week if they do their chores. Janet Bodnar, editor of Kiplinger’s Personal Finance, says it’s time Sasha and Malia demanded a raise. She advises giving kids a weekly allowance of about half their age: that’s $3.50 for Sasha and $5 for Malia. For that money, they should be expected to do extra chores.
“With an allowance, kids learn how to be patient and save money for something they really want. They use their own money—not someone else’s—to buy their things. In short, they take on more personal responsibility,” Bodnar says.
Of course, some families don’t give any allowance at all, believing kids should do chores without expecting a payment in return.
What do you think? Is Obama being too fiscally conservative when it comes to paying his daughters? Do you pay your tweens an allowance? If so, how much?
Photo: OBAMA TRANSITION OFFICE
Comments
It all depends on what the allowance is expected to cover. Is it just for treats, or is the child expected to pay for school lunches or outings as well, for example. I knew one family that gave their three daughters what I considered to be an extremely generous allowance, but they were expected to buy all birthday and holiday gifts out of that. (One sister once said she didn't "feel the need" to buy her sister a birthday gift, but that's another story.)
Posted by: Dahlink | February 10, 2009 6:29 AM
The kids get to meet the Jonas Brothers and Hannah Montana. I don't think giving them a dollar a week matters in the slightest!
Everything in their life will be taken care. A dollar a week will still teach them about saving and working towards a monetary reward; so this questions is moot.
Posted by: Garrett | February 10, 2009 8:05 AM
I don't believe children should be paid to do chores. I think children should do chores because they are part of a family unit and in order for it to run smoothly, everyone has responsibilities to make that happen. If chores are not done, then other things are taken away......TV, computer, playdates, car, earlier curfew, being grounded, etc.....I think children should receive an allowance each week and be taught about saving, spending, charity, etc....
Posted by: Julie Jensen | February 10, 2009 9:37 AM
y. Wise parents ask themselves: "Would my child's future spouse pay him or her to their chores?"
Allowance can be given separately to teach kids how to save and spend. Jobs offered at home can teach kids how to earn. Different lessons call for different methods and tools.
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Posted by: Kristan Leatherman, M.S. | February 10, 2009 1:43 PM
This is funny my sister is 64 and this
one dollar a week is what she gave her kids and still gives the grand kids.
I personally needed 20 dollars a week for movies and buying music ,T shirts.
Posted by: Joun | February 10, 2009 2:34 PM
I received an allowance each week but am still undecided about which path to choose with my own child. I do however think that is just a great photo.
Posted by: Stephanie | February 10, 2009 3:21 PM
I give $20 a week and my husband gives $20 as well so $40 dollars a week for my 11yr old.
Posted by: Anonymous | February 10, 2009 5:28 PM
The girls are probably not being paid to do their chores. Their allowance is simply being withheld if they haven't been responsible during the week. There is a difference. Our older kids (11 and up) get a stipend each month; but there is no way I would hand it out if they were being monsters. Under 11, there is no allowance whatsoever. So my kids would consider those girls lucky!
And, really, it is no one's business how much the Obamas give their girls. Please. I have to laugh to hear some "expert" tell them how to live their lives. Seems like they are doing a pretty good job of it without our help, doesn't it? Most families with their resources spoil the children to death, I would guess.
Posted by: suburbancorrespondent | February 11, 2009 4:33 AM
No...3.00 is what they should get
Posted by: Anonymous | February 11, 2009 8:58 PM
If you want kids to learn how to manage money, they have to have money to manage. You won't learn any substantial money management skills handling a buck a week.
I'm with the parents who don't pay for doing chores. Chores are everyone's responsibility as part of the family.
I'm not against paying for good grades. That, to me is an opportunity to teach about the value of hard work and persistance.
Posted by: Bucky | February 14, 2009 8:45 AM
Bucky, my family had a policy against paying for good grades--probably because I would have cleaned up big time!
Posted by: Dahlink | February 17, 2009 4:27 PM
Dahlink, I would have been panhandling on the playground for spending money.
Posted by: Bucky | February 18, 2009 12:08 AM
And Bucky, there are many invaluable lessons to be learned that way! My grandmother from Texas was always worried that I would get "brain fever" from reading so many books. I still haven't figured out exactly what she meant by that.
Posted by: Dahlink | February 18, 2009 4:40 PM