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Chad is in Nashville I Chad welcome -- that I Ramsey show how are you tonight.
I'm fine -- thank you this at a at a questions around children allow -- I have a dog year old son just turned twelve year old son to.
He had an elaborate a little bit about the allowances and you've read sometimes where you shoot.
Not necessarily tie allowance to -- -- -- -- chores.
He just didn't see any opinions -- thoughts on the best -- to provide allowance for children.
I've got great strong opinions on this I think if you do not teach your children more money comes from.
By teaching them to work and tying the work to money that your child -- -- And I think they're gonna live in your basement till -- 32.
You've got to teach and work my and that's the -- mom's job.
It's one of the jobs there and I'm not talking about running Hitler's boot camp for money here or something.
But I mean it's your job teaching the cleanup if they clean up.
Some things just because they're part of the family are they -- on things or projects and that's find some things we do around Ramsey house.
We did just -- your part of family not the journal but.
But other things we never use the word allowance I don't like it sounds like welfare to me.
Make allowance for you elect is another deficit -- deficit they're just young.
And they need training and teaching and loving guidance and so when your four -- have different expectations -- you know when your fourteen.
Fourteen I have higher expectations believe it or not so you should've learned some things along the way so we put our kids on commission.
We had some items if you do just the cost.
Because -- -- the family and we want you to learn to love your mother well and that's -- -- the kitchen right.
But and other things you do as your weekly chores and you get paid for those if you do them if you don't know them you don't get paid for them.
And eventually you're just gonna do them so eventually you're gonna get -- Yeah ignoring the dog and not feeding it forever is not good for the dogs so you've got to feed the dog so.
You know this is how we did -- our house and then we broke.
That save our our broke that payday for those commissions up into three different envelopes and -- right here.
We put him put some of their money into savings envelopes of their money and spending envelope of some of that money and giving envelope.
And spread it out that way and then when they got ready to do giving it was money that they quote unquote -- When they got -- to spend it was money that they quote unquote earned they felt.
Hey an ownership.
Of those dollars that they -- in the played at the church and it changes how they get it changes how they feel about changes how they spin.
And then later on when there were older it was easy once they learned quote the value of -- dollar.
To convert them to handling their own household their own budget within our budget as teenagers.
And now have the opportunity to coach them through how to keep a checkbook balanced.
And consequently I've got three teenagers and college students and one graduated from college that that have.
I have very little problems learning how to work.
As they've grown into an alternative and very little problems learning how to keep checkbook balanced.
And we weren't mean or nasty or overbearing about it I mean -- wanted to be -- ramseys did abilities of blame them but we really were pretty -- -- -- -- But what I wanted to make sure they got those lessons of work.
Giving saving and spending with dollars that they touched.
And so I would advise you that at least start trying that at some level.
I -- amounts indicated dive -- amounts.
Amounts would would vary based on your -- calm and the neighborhood that you live in.
-- you know because the kids are gonna have different lifestyles to go with your lifestyle.
And it has do we your budget to.
The big thing here -- we want the principle being taught and it needs at least somewhat realistic but when our kids were little.
You know fifteen years ago we did a dollar per shore per week.
And so a six year old with five -- have the opportunity to earn up to five dollars a week.
And an F five ones and I would put.
One of those ones in the giving novel opens to in the -- from spending and that's how we broke that down -- as they got a bit older we -- that.
And you know it is by the way fare for a twelve year old to make more than a picture -- If you've got two of them in the house.
Because -- twelve year old has a different set of you know.
Lifestyles that they're engaging it.
The security is not -- -- and you want them to have a little more responsibility and so I'm okay with earning up I've heard the things set it up to.
-- age per week.
I've heard that yeah yeah that's you look honestly at number I'm educate myself and say it would nice just.
And the young it earned -- a little high and to me that.
Bulwark through that.
Yeah but I used to -- -- -- for three dollars to get back exactly insured and get it done that now -- -- to be realistic you know everybody that it has -- with your budget and your -- goals if you're behind on your.
Mortgage than we -- -- to have this discussion.
We're getting there aren't on the house.
This is more teachable moments were trying to create teachable moments in this process.
All right thank you are marching you're not a way you can adjust the -- as you go along and you -- admit that we're making this up as we go.
We're gonna try it this -- kids of -- -- work out or remove it this way.
If live try to load of -- -- -- -- -- little higher so you know trial and error in their two you don't have to be like you've got the perfect formula or something.
As you know you've got two kids parenting is not perfect formula.
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