Posted in Homemaking Secrets from My Dusty Shelves

I recently started a new allowance system with our children. Up until now, they have not had an allowance. Paying an allowance to 6.5 children could get quite expensive, but I wanted them to learn how to budget and save. So I devised a more financially feasible system that has been a big hit in our home over the past month.

The first thing I did was buy a roll of "Admit One" tickets from the office supplies section at Wal-mart. These were about $5 and will last us quite a while.

Next, I made a list of their assigned chores then added a list of "optional" chores that need to be done around the house. Next to each chore, I added a ticket value. Small jobs are worth 1 ticket. Difficult jobs are worth 3 tickets. In-between jobs are worth 2 tickets. An example of each would be: Make your bed - 1 ticket. Weed the rockbed - 2 tickets. Clean up all toys in the backyard - 3 tickets.

Finally, I made a list of things they could purchase with their tickets. Most of the things on the list were no-cost items. Some examples: A prize from the treasure box (which contains small candies and small dollar store toys) costs 10 tickets. One 1/2-hour of video game play costs 30 tickets. Breakfast in bed costs 40 tickets. A date with Dad or Mom costs 50 tickets. A sleepover with a friend costs 60 tickets. They may also turn in their tickets for cash. The value of each ticket depends upon the age of the child since the jobs they do increase in difficulty with age. The older children average between 25 and 35 tickets per week.

Our tickets are treated as cash. I wear a small utility apron during the day that I carry essentials in. One pocket contains tickets that I hand out as they complete and I inspect each job. I re-use the tickets once they are cashed in. If a child loses his/ her tickets, we do not replace them. If a child finds a stray ticket lying on the floor, he/she is allowed to keep it. This is done with the intent of teaching them to be responsible with their tickets just as they will need to be responsible with cash someday.

This program has been a success with our children. Of course, the 2yo isn't on the program since she doesn't comprehend it at all. The 4yo and 5yo don't quite grasp the value of the tickets yet. They enjoy getting them and spending them, but aren't concerned about the amount they acquire. Although my 4yo has already saved up enough for a date with me. The ones who understand it the most and are using it to their advantage are the 6yo, 9yo, and 12yo. They have been inspired to complete several "optional" jobs in order to save up for their goals. I appreciate this tremendously because it lightens my housework load without nagging. They're also learning valuable housekeeping, self-discipline, and budgeting skills!

Blessings,