MomForce Podcast Episode 7: Allowance?..."You get to live here!"
Welcome to the MomForce Podcast! Vanessa Quigley, mother of 7, entrepreneur and co-founder of Chatbooks, hosts this refreshing take on all things mom. Along with her 4 sisters, they’ll get into the nitty-gritty of real life parenting together, bringing you some tried and true tips and tricks to help make mom-life a little easier. And check out the #momforce by Chatbooks Facebook page.
It’s a Privilege to be My Kid… But You May Need a Few Bucks, Too…
Managing Allowance and Teaching Kids the Value of a Dollar
With 11 siblings and 7 children of her own, it’s safe to say Vanessa has experimented with a range of possibilities when it comes to allowance. Whether it’s getting paid for simple household chores, getting a job, or being paid for good grades, teaching kids the value of a dollar is hard!
Let’s face it… we may feel like it’s privilege enough to live in our homes, but kids need money - especially as they get older! In a follow up last week’s Chores episode, Vanessa and her sister, Erika, sit down to discuss the challenge of wanting their kids to have fun without handing out money for nothing.
In our allowance episode, Vanessa and Erika chat about the different allowances (and reasons for them) they received as kids, and how they’ve used money to reward (and sometimes penalize) their children as they’ve grown up. From splitting the costs of non-essentials, to emphasizing the importance of money making skills, we’ll cover what’s worked, what hasn’t, and all the reality checks along the way (you’ll want to hear about the time Erika’s son, Jett, hit the jackpot with his Lemonade Stand).
There’s always more conversation on the MomForce Facebook Group Page. Follow us there as we continue the discussion by talking about ways to teach value to younger children and those not motivated by money.
Read more about Richard and Linda Eyre’s “Family Economy” here and in their book The Entitlement Trap
Before her kids are 13 and can get their own bank account, Vanessa uses First Kids Bank to manage her kids allowance.
Jett and his \u0024100
A “Summer Job List” from Vanessa’s childhood:
Notice the white stickers on this chore chart from Vanessa’s childhood? There may not have been regular allowance, but her mom rewarded good behavior with money.
The Bank of Quigland, designed and painted by the Quigley family.
Vanessa’s Penalty Chart from 2007
Connect with us:
Erika Anderson @rikkianderson