My kids love stuff. They love being able to buy new stuff. So, they get allowance. Noah’s been getting it since he was in Kindergarten, I think. Daniel just started getting it this year.
At first, with Noah, we gave him cash. But cash, especially these days, is kind of a pain in the butt. First, every Sunday I had to have the cash to give to him. Then, he had to remember it when we went to the store. It just wasn’t working well. We’d forget to pay him, he never had his money when he saw something he wanted to buy. The system had to change!
Thankfully, we live in the age of technology. Technology is a wonderful thing. I hardly ever carry cash, because we have credit cards and debit cards. Why should my kid need to carry his cash around? So, I went searching for an app.
The one I found, and love, is iAllowance from JumpGap Software. It’s easy to set up, intuitive, and easy to use. Every week, it “deposits” $2 into Noah’s various accounts – $1.70 in his spending account, $0.15 in charity, and $0.15 in savings. If he does extra chores, I can add in the monetary rewards manually. If we’re out shopping and he sees something he wants, I can easily check his balance on my phone and let him know how much money has has, and I can deduct it easily if he finds something he wants to buy.
Now, Daniel, because he’s only 5, still gets cash money. He’s young, and still needs practice learning to count coins (and learning to identify them!) and needs to understand that money is a tangible commodity you exchange for stuff. So, he gets 2 quarters a week. They go in his piggy bank, and when he wants something, we sit down, dump out the bank and count up his money and see if he has enough. Then we figure out how long it’ll take for him to get enough to buy what he wants. (Thankfully, at 5, he still thinks 50 cents is an amazingly huge sum of money.) Of course, we still haven’t solved the problem of me forgetting to pay him, but he doesn’t seem to mind.
But for Noah, iAllowance works wonderfully. He already knows how to count money, having practiced extensively in math class, and this way, we don’t forget to pay him (unlike Daniel, Noah really minds not being paid!) and he always has his balance available for easy access.
So, give it a try! iAllowance LT is a free version, with accounts for one child, or purchase the full version ($3.99) with accounts for multiple children. You can even sync between multiple devices!