Interrupter CheckmarkInterrupter IconFacebookGoogle PlusInstagramGroupRamsey SolutionsTwitterYouTubeExpand MenuStoreCloseSearchExpand MenuBackStoreSign in

Ask Dave

When To Start Allowance?

What's the cutoff age, where you should start paying your kids for work?

QUESTION: Jason asks when he should start giving his kids allowance and how much it should be.

ANSWER: You should not give your kids an allowance.  Instead, teach them to go out, kill it, drag it home, and then you’ll give them some money.  A better word for it is commission.  Make them do a little work for it – even if it’s just picking up their room, feeding the dog, or putting their toys away.  It will create teachable moments where they learn the value of work and good money habits.