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$10/week, 60/30/10 + set list of optional for-pay jobs by beattherush

60 spending, 30 savings, 10 sharing.

Sharing goes to charity at Christmastime.

Saving goes to a stock account with fractional share options. They can pick from a portfolio of kid-friendly stocks.

Spend goes to an online account where they can draw on it no-strings-attached, save parental vetoes due to safety (e.g. no guns or giant piles of gummy worms)

List of optional chores - cleaning stuff around the house mostly other than their rooms and play areas, plus some academic milestones - we generally pay market rates. We rarely penalize allowance unless there's just flat-out noncompliance on the "keep your own place clean" rule.

They're doing OK on the stocks front. Our 11-year-old has figured out compound returns and equity and voluntarily saves if he does not have a pressing need. 9-year-old still has cash burning a hole in pocket occasionally. The enforced savings percentage helps with the lessons we wish to impart.

You want it? Not your birthday? You buy it.

Saves a lot of parental arguments, teaches the right lessons.