Comments on: My Two Cents On Allowance http://tcjewfolk.com/jewish-allowance-palay/?utm_source=rss&utm_medium=rss&utm_campaign=jewish-allowance-palay Twin Cities Jewfolk: the hub for hip Jewish stuff in Minneapolis and St. Paul Fri, 17 May 2013 00:20:09 +0000 hourly 1 http://wordpress.org/?v=3.5.1 By: Bill http://tcjewfolk.com/jewish-allowance-palay/comment-page-1/#comment-19770 Bill Tue, 29 Mar 2011 16:51:25 +0000 http://tcjewfolk.com/?p=17123#comment-19770 David,

Agreed completely. That’s why we built a site at FamZoo that lets families set things up pretty much any way they like. The system has to match not only the culture, but the individual family’s values and financial situation. Even kids within a family are different – mine sure are. We have thousands of families all with their own customized “Virtual Family Bank” tweaked to meet their needs.

Cheers,
Bill

]]> By: David Palay http://tcjewfolk.com/jewish-allowance-palay/comment-page-1/#comment-19768 David Palay Tue, 29 Mar 2011 16:18:08 +0000 http://tcjewfolk.com/?p=17123#comment-19768 Bill, holy cow! That is some system! Yeah I can see how as the number of kids and tasks increases, the time spent managing the books also increases! Looks like your family has it figured out. To be clear though I understand that your system or my system would not work for every family. The system has to match the culture.

]]> By: Bill http://tcjewfolk.com/jewish-allowance-palay/comment-page-1/#comment-19686 Bill Mon, 28 Mar 2011 21:22:54 +0000 http://tcjewfolk.com/?p=17123#comment-19686 David, I think you’ve got some excellent ideas in there. I like the hybrid of a “base allowance” plus a “performance based” component along with incentives for saving. Since we have 5 kids, we didn’t like the idea of having to track all the completed chores, so we went with performance penalties instead – i.e., subtract from the weekly allowance for chores not (or under) completed. The hope is that the cases of NOT doing chores are the exception, not the rule and we reduce our bookkeeping. (Not necessarily the case during the trying teen years!) Here’s what it looks like in the system my wife and I use:
http://www.flickr.com/photos/famzoo/5553655209/

]]> By: Emily Cornell http://tcjewfolk.com/jewish-allowance-palay/comment-page-1/#comment-19488 Emily Cornell Sun, 27 Mar 2011 03:39:22 +0000 http://tcjewfolk.com/?p=17123#comment-19488 Ooof. Now that my mom (@Amy) has weighed in, I clearly have no excuse to not jump in.

I’ve been thinking about your plan since we discussed it last shabbat (yes Dear Jewfolk, our group of some with and some without kids young Jews was discussing allowance over dinner). I like the idea of the performance based allowance but, like my mom pointed out, don’t think it will work if my kids cause me as much trouble as I caused my mom. I also really like the idea of interest accrual for savings (really, really like and fully intend on tucking away for that time that I’ll need it in the future).

The conclusion I’ve come to? I’ll probably have to try a few things to see what works to teach my future children both fiscal and familial responsibility.

And I think Mom says it best: ‘it’s not the program but the fact that we care enough to really think about such things.’

Thanks for an engaging debate. Looking forward to more with you!

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