Even though we are years away from having to even think about a weekly allowance for our boys, I was recently asked what I thought about and more importantly, what we were going to do for our boys? So, I asked my mom how when I was a kid, what she and my father did with me for an allowance. I honestly don’t remember getting an allowance when I was a child, I am a firm believer of paying kids for work that they do, not just give money away every week, just because.
When the boys are of age, I am guessing 8 or so, we will sit them, give them a list of chores and once they are completed, at the end of the week we will give them a set amount of money. The chores will probably range from taking out the trash, clearing the dinner table, keeping their rooms cleaned, etc. I want their allowance to be not about the money, but about learning to take responsibility.
Dave Ramsey has a great article on this same topic, that also follows this same thought process.