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My parents gave all of us an allowance growing up. We got $1 for each year old we were each week (so when we were 6 years old, we got $6 a week, etc).

This allowance was not tied to chores or helping around the house. You do those things because you are a part of the family and help out, not to earn money.

We were required to save at least half of our allowance (although we usually ended up saving most of it). Once we started getting a decent chunk in our savings accounts, our parents helped up open mutual funds. Also, whenever we deposited or withdrew money, my parents helped us fill out an account register (which we had to balance) so we always knew exactly how much we had.

i actually did get an allowance. i can't recall how much, but in high school, i think it was about $20/week or so. maybe a bit more because i had to buy metrocards and all to get to high school. and also pay our carpool when i hit junior and senior year. i don't think i got it in elementary school. in jhs, i may have gotten like $10 or so a week so i'd buy snacks and lunch and all.

i want to give my kids allowance but not sure how my hubby feels about that. i don't think he wanted to.

i do want to teach my kids about saving, tithing, etc. though. something i was never really taught. (my dad used to give me $1 for church)

When I was little I used to get $1 a week and saved $104 dollars that way!!!

My mom was on disability, so every month she'd get a check for herself and an additional check for me. While I was in high school, she would just deposit that money into my bank account for spending money for the month. It was about $600 a month. I paid for all of my "expenses" that way: gas in my car, going out with friends, etc. Honestly, I wish I had saved even some portion of it, but instead I just spent all of it each month.

I had an allowance for a year or two, and saved almost every penny of it. Once I turned 10 though, I got a job delivering papers and the allowance stopped.

My parents tried to give me an allowance of $20 a week when I was 8 or so - but that failed miserably as they always just gave me $ when I needed it. In college however, they gave me $80 a week allowance. I lived in the dorms and had a meal plan, so the $80 just went to fun stuff (my parents bought me my clothing on school breaks etc), but that $80 a week, really helped me to both have fun and learn to manage my money. Only once did I have to call my mom and say that I had no money in my checking account and needed more - that was a lesson I've never forgotten and have made sure to never repeat it.

I had a small allowance (can't recall the amount) that was not linked to chores. We could however earn extra allowance if we helped with bigger house projects.

I think for our daughter we will do $1 for every year of age, every week. We won't give her actual cash, but write it down in a book where she can save and make withdrawals if she wants a special toy.

I think it's really important to teach kids from an early age that money doesn't just magically appear, it's something that we (Mom and Dad) work hard to earn.

I had an allowance but I don't remember how much it was. I was hooooorrible with money and would spend every dime I had. I was also not thoughtful and spent it all w/o realizing things like Christmas or birthdays were coming up. Ugh, I regret that. Unfortunately I was never taught to save or why I should save money (even though my parents are SO GOOD with their money). I really hope my husband and I can instill a good sense of how to spend money wisely to our children. I'd like to see them save at least a little of every bit they get.

I did in high school and would save it all for prom and other school dances. It didn't teach me much about money because I am HORRIBLE at spending.

@Mrs. Bee: I really like the idea of a matching savings plan. I hadn't ever thought of including that as part of allowance, but now I think I would seriously consider doing something like that.

I did get allowance as a kid. It wasn't a lot, but enough that if I saved it I could eventually get myself something nice. I do remember that my mom gave me a larger allowance if I was purchasing school lunches. When I brought lunches from home then my allowance was less, since I didn't need the $$ for food.

No allowance for me. My parents believed that we shouldn't get paid for contributing to the household. They felt that since we were all apart of the family we all had to work. We had assigned chores and if they were left undone we got in trouble.

I did not get allowance and the only miney I ever really got was from birthdays or christmas. I think when the kuds get older we will have them work for money aka make a list of chores that they can do each week to earn money and they will get paid for what they did. We wont give them money for all chores just certain ones. I hope to teach them that in life you do have to work to get things and you should also do things just because.

I got an allowance and got money when I asked for it, but we also opened a savings account, and were expected to make regular deposits. Also when I got a job the allowance stopped and when I got a car I was expected to pay the insurance and gas. This definitely began teaching me about budgeting, and I'd say I'm pretty good at it.

I got an allowance weekly until I was in high schoolish, then I just got money (within reason) when I needed some, $10 here, $20 there for movies, mall, dinner w/friends, something at school. However, I never did any chores. Seriously. I am an only child and I was pretty damn spoiled in that regard. I think I turned out OK, but it's only been recently that I learned how to manage money, and I'm 31! My dad didn't want me to have a job in high school because he wanted me to focus on my grades. I did get a PT one my senior year to save up some spending money for college. I've never been a good saver, though.

We've discussed it and our kids will get a nominal allowance but will have to actually do stuff. Then probably as they get older, some spending cash on a case to case basis, but they will get a PT job in high school and pay for things themselves that way. Unless, I said, their grades start slipping

Hmm, I guess I'm one of the only ones that got paid for chores, haha! We got our "base" allowance (I think it was $20/week in middle school?) and then my mom had a list of household tasks with dollar values next to them. If you did the whole list you could earn like $100! Our friends were allowed to "work" too and got paid. It got household chores done without complaints, but I don't think it taught us the right values... all of us are super messy and lazy!

Starting sophomore year of high school, I got a part-time job of my own volition, and so I didn't get allowance any more. My parents still paid for things I needed, like toiletries and new clothes for school.

My parents were never good about giving allowance. I remember it would sort of come & go...same with my chores! My parents did not teach me to manage money well & spoiled me quite a bit by always giving me money whenever I needed it, even in high school & college when I had jobs. My DHs parents just gave him & my BIL money when they needed it & that backfired for my DH since his brother will ASK for things & my DH won't. I am not sure what we will do for DD but we will give some sort of allowance & have some sort of chore chart as well.