Krisula Moyer

We've tried a number of things and interestingly, all three kids have asked
for (and get) a different system. 10yo ds wants to "earn" his money. He
sort of gets about $5 /week automatically because he takes care of the dog
regularly and does "morning things" which basically means take care of
yourself without being reminded so I don't have to wory about it when it's
time to go somewhere. After that, if he wants more money he can do chores
or garden or any number of other things that help the family. He typically
finds something he wants to buy and then does extra work until he has enough
money for it.
8yo dd wants a steady amount each week. She gets $7 and doesn't have to
earn it by doing specific things. She helps out about the same as he does,
but it isn't linked to a dollar amount. 3yo dd just wants to be able to
spend money on a toy when we go to the store and sometimes she says "can I
get some money if I help you clean?" I give it to her but I still buy her
what she wants usually. It adds up to about $5 to $10/week but I don't keep
track so much with her. All the kids keep their money in the bank of Mom
and withdraw when they want. Usually if we are going to an amusement park
or farmers market or something like that they will ask for the cash before
hand so they have more autonomy when they want to buy something. The only
element missing at this point is the long-term savings. We have some (not a
lot) of money in IRAs for them but they don't put any away themselves.