5 at the allowance table!

In our family 5 is the magic age to start receiving allowance.  So now there are 5 kids at the table when the banker (Matt) starts passing out the cash!  

I stay out of the fray - allowance is just between Daddy and the kids!

Everyone gets their "age" amount in RMB.  So Julianna tops the charts at 11 RMB (about $1.50) a week, and Luke is new to the table with 5 RMB per week.  They are responsible for dividing it between spending, saving and giving (with the littles getting some extra supervision in this area).  The older three have wallets with three compartments, the little guys have a separate bank for each category of cash. 

And the deal is that they can spend their spending on anything they want, but purchases that dig into the savings need to be okay-ed by parents.  Together we look for opportunities to invest their giving.  

We don't use allowance as "pay" for chores.  We give allowance to provide opportunities for them to grow and mature in their ability to handle money.  {And they do help out at home.. often, and sometimes even willingly, and increasingly they are doing things without being asked!}

So fun to see them all growing in this - and to see Luke so proud to become a member of the allowance-receiving kiddos club!

[On this particular day Matt was passing out the big bucks - we try to do allowance on the weekends but he was a week behind and heading out on a big trip where he would miss two consecutive weekends, so those girlies are holding bulging wallets! ha!]