Latest news with #allowance
Yahoo
5 days ago
- Business
- Yahoo
'Kids Don't Need an Allowance' — Dave Ramsey Says Kids Should Work For Money: 'I'm Not Saying Your 7-Year-Old Should Be Flipping Burgers...'
If you've ever forked over cash just because your kid asked nicely, you're definitely not alone. A lot of parents hand out allowances like weekly snack rations—automatic, expected, and loosely tied to breathing. But personal finance expert Dave Ramsey isn't having it. In a Facebook post shared last year, he made it clear: kids don't need an allowance—they need a lesson. "Your kids don't need an allowance. They need to learn to work," Ramsey wrote. "Let me be clear: I'm not saying your 7-year-old should be flipping burgers or punching a time clock." Don't Miss: Hasbro, MGM, and Skechers trust this AI marketing firm — Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – So no, he's not advocating child labor. But he is saying that money shouldn't just magically show up every Friday like it's their birthright. "I am saying they need to learn that money comes from work—not just from existing," he added. Instead of a flat-out allowance, Ramsey recommends paying kids a commission for age-appropriate chores. Clean your room? That's a few bucks. Mow the lawn? Maybe a little more. Help out around the house in a meaningful way? That's how you earn. "The goal isn't to overwork them—it's to help them understand that money comes from effort, not entitlement," he wrote. "These lessons will stick with them for life." Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — That advice stands in sharp contrast to what most parents are actually doing. According to a 2022 survey from T. Rowe Price, parents give their kids an average allowance of $19.39 per week, per child. That's nearly $80 a month—more than some adults spend on streaming services. The core of Ramsey's message isn't about saving a few bucks—it's about raising financially competent humans. Teaching kids the connection between effort and income lays the foundation for better habits down the road—budgeting, saving, avoiding debt, and understanding that money isn't free. It's a mindset shift, not just a budget tip. And in a world where financial literacy isn't a given, that shift might be worth more than $19.39 a week. Read Next: Maximize saving for your retirement and cut down on taxes: . Nancy Pelosi Invested $5 Million In An AI Company Last Year — Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article 'Kids Don't Need an Allowance' — Dave Ramsey Says Kids Should Work For Money: 'I'm Not Saying Your 7-Year-Old Should Be Flipping Burgers…' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Daily Mail
6 days ago
- General
- Daily Mail
I give my daughter a £27 allowance a week but my son nothing - I think it's fair
A mother-of-two has sparked a debate online after she revealed she gives her daughter $60 (£27) allowance a week but her son nothing. Taking to Reddit, the woman, who is from Auckland, New Zealand, explained she recently moved house with her children to live closer to her parents due to their declining health. The 45-year-old, who has a 17-year-old daughter and 14-year-old son, revealed her daughter has adjusted well to the move but her son is struggling and misses his friends, despite getting to visit them every two weeks. However due to the move the mother explained she now works from home three days a week and needed to create an office space for herself. She explained: 'My bedroom is too small, and the only options were the lounge or one of the kids' rooms during school hours. 'I proposed this to them - my son flat-out refused ('no way in hell'), but my daughter offered her room and half-joked about charging me rent for the space. I thought it was fair, as I get a $20/day work-from-home allowance. 'I agreed to give it to her if she was okay with me setting up a small office in her room. I work from 8:30 to 5:00, and she usually starts homework right after I finish, so it's worked out well. 'I didn't immediately agree to the deal with my daughter. I offered it to my son first, who reiterated 'hell no' and 'get the f*** out of my room''. However, this has now really upset her son as he believes he should get an equal allowance and he started an argument with his sister about it. The mother explained she gave both children the same opportunity but her son refused to let her use his room. She said: 'I told him he had the same opportunity and was now out of luck. He got angry and brought up the move, saying he never gets to see his friends. 'For the record, I drive them back to visit every two weeks for visits. I told him I understood his feelings but said I wouldn't tolerate being spoken to like s**t. 'He then started an argument with his sister too - going in on her for being an opportunistic b**** and she called him a whiny little a***hole. 'To cool off, I offered one of them the option to stay at their grandparents for the night - not as a punishment but to break the tension. 'My son opted to go and while dropping him off, my mom told me I was favouring my daughter and should be paying them equally. My dad disagreed, saying my son had the chance and was out of luck.' Asking for some advice on the situation the mother turned to social media who gave conflicting advice. Many suggested her son should do chores around the house to work for the same amount of money. One person wrote: 'She's not favouriting her at all. He has the chance at this himself and said 'hell no' he doesn't want to give up his space or privacy. The daughter was willing to do this. And after a joke about rent. 'The OP obviously saw that as a good idea. And from what i gather. She still gave him a chance to say yes. But he repeated 'hell no'. 'It isn't like she's giving her daughter money for nothing. That teenage girl has given up her space and privacy. 'So it's only fair that she be compensated for that. The son is mad because he didn't want to move, wants to see his friends more than once very two weeks. And wants money for nothing. He didn't want to give anything up exchange for money. But he's mad his sister did. 'If he wants money so badly, he needs to do something for it. And not just expect it.' Another said: 'In addition, the daughter is committing to maintain the room in a state where it's usable for the mom's work. 'Things need to be out of mom's way. Private things need to be out of sight in general, and especially so if mom is going to be on a video call since people will be able to see the room. 'Daughter is agreeing to shape the routine of her life around mom's life in a way that son doesn't have to think about at all. Paying her a bit for that isn't outrageous. 'If son wants to take on a bunch of extra chores or something so he earns some money too, fine.' Someone else said: 'The son had the choice. I know people don't like the consequences of their actions these days but maybe it's time for her son (and you) to grow up.' A fourth added: 'Yes, her son is out of pocket and insanely disrespectful. I'm baffled at the comments saying to bend over backwards for him or give him money too for doing nothing. this is why there are so many a***** entitled men in society right now.' Another added: 'Came to say the same and also your daughter's offering is an act of kindness. And you paying her for her sacrifice was kind as well. 'Your son chose to be selfish and shouldn't be rewarded for it. Maybe your son should take this as a learning opportunity to be kind without expectations. 'He really needs to learn he's not going to just get his way by lashing out and calling his sister derogatory words when she was being a nice person. 'NTA at all. Don't let the moving situation sway you. I'm sure you feel bad for him but you are spending gas money and time driving him to still see his friends. That's kind of you.' Someone else added: 'Offer your son a 'job,' like weekly a couple of things to do. It could be things like taking out the garbage or yard work or even vacuuming. That way he has an opportunity to receive money too.' However others believed the mother was being unfair and blamed her for 'uprooting' the children's lives. One person said: 'You said he was having trouble adjusting - that's the only safe space he currently has. 'Anyone, especially a teenage boy is going to have a knee jerk reaction to a suggestion that his space may be invaded. 'You've uprooted his life - and by the sounds of it he doesn't have the income to be able to go socialise with anyone else outside of school even if he's invited. 'You must've known the limitations in advance and this should have been discussed before moving.' Another said: 'The fact you say he shut himself in his room speaks volumes. Your kid is incredibly unhappy and you're adding to it. 'You haven't addressed whether or not you provide your son funds to socialise outside of school - or recognise that might be his only 'safe' space or the only place he's comfortable.' Someone else wrote: 'You're playing it a little fast and loose here. Your son may well have offered his space if there was $60/week on the table. 'It's true that your daughter made the offer without promise of payment, but you did turn around and offer her compensation for the favor. See how that works, son? 'I think you need to be accountable for that, mom.' Another added: 'YTA. You created a problem where none needed to be created. You should've used the lounge as the kids are not home during that time anyway. 'Giving one child the best part of $240 per month but your other child gets nothing and then you tell that other child that they're "S*** out of luck" is a level of BS that no parent should be reaching to. 'You're going to need to find a way to equal this out. Either Split the $60pw between them by getting your son to do something too or pay your son $60pw also for something. 'There really is enough rivalry between siblings without their parent adding more animosity into the mix.'
Yahoo
09-05-2025
- Entertainment
- Yahoo
Alexis Ohanian Reveals How He and Serena Williams Dole Out Allowances to Their Two Kids
When your parents are worth a combined $450 million, you'd probably think that your weekly allowance would be the least of their worries. However, that's not the case for doting parents Serena Williams and Alexis Ohanian, who recently admitted to taking their children's finances very seriously, especially when it comes to paying them for their assigned chores. Related: Serena Williams Cheers Herself up With New Daughter Adira After Admitting She Was 'Not Okay' Ohanian explained his thoughts about doling out a weekly allowance on X, the social media platform formerly known as Twitter, when he shared a video of himself talking about how he and his wife had to negotiate — first with their daughter, and then with one another — about how to set up a chore and payment system. According to the father of two, they set the terms of how their oldest daughter Olympia would get paid in exchange for finishing certain chores. Ohanian said that Williams than worked as Olympia's lawyer, drawing up a contact and having all parties sign the document to seal the deal. Apparently, Williams has a calling as a lawyer though, because Ohanian later joked in the video that she'd managed to negotiate a pretty sweet deal for their daughter, which allowed her to take the weekends off. "We're trying to create that flywheel between doing the work and getting the money, and then understanding that there are things you could want," he continued. Eventually, Olympia also got to learn a bit about budgeting, when she spent all of her money on a toy she wanted, but then didn't have anything left over a few weeks later when she wanted to buy something else. 'I need [Olympia] to feel that little bit of pain of, like, 'Ugh, I gotta wait two more weeks for that paycheck,' and then start to remember, 'Because I do this work, I get this money,'" Ohanian explained of his reason for not just giving his daughter the money himself. "We're trying to build the muscle: work = reward. Good things come when you work for it." We couldn't agree more! And, if they keep it up, we're sure Olympia will realize that in no time. What a smart idea! Up Next:
