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Step 1
Consider the child’s age when determining the amount of allowance for your child. Clearly a 7-year-old does not need as much as a 14-year-old. So take into consideration the age of the child when you choose an amount for an allowance.
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Step 2
Make a list of the items the child is expected to pay for with his allowance. It may include items of personal nature, entertainment or special events. The child may want extra to save for a higher priced item at the store that would require him to save a bit for six months to a year so take that into consideration when setting an allowance amount for your child.
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Step 3
Choose whether you want to give your child a dollar for every year of age of the child, or if you are going to put a cost on certain jobs that the child does around the house. Some people match the child’s allowance to what their friends are receiving. No matter which way you decide stick to it uniformly with all your children. You want it to be a fair system so no one complains.
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Step 4
Link the allowance with a certain job that the child does either once a week or daily. There should be other jobs that the child is required to do just because he is a contributing family member. So the child will learn both that he is obligated to help out and that there is pay in exchange for some jobs. This teaches the child to be helpful and also work for his pay giving him a good work ethic.
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Step 5
Decide which day of the week you will provide the allowance to the child. Some choose Friday since it is the typical day that is designed by most employers and it also when you get paid therefore you will be able to pay the child. However some wait until Saturday allowing the child to complete the task what ever it may be. Whatever the day be consistent so the child expects the allowance on that day.
