Let's see should I give my child an allowance? How old is the child? Does he or she know how to read and write yet? Toddlers of course do not get an allowance. Ten year olds should clean their rooms without an allowance. If you are old enough to get a paper route then the situation changes. But to answer the question: Should I give my child an allowance? Here is my take on it.
I say no. You should not give your child an allowance. Even if they do household chores for it. If you give your child an allowance for doing household chores to try and teach them the value of money, the only thing you will get is children who grow up being sloppy and lazy. They will marry and have children of their own and their houses would be messy because they will expect to be compensated for it. They will want to be paid for doing the very thing they should be doing for themselves for free in the first place. You should keep your house cleaned. The kids should keep their rooms cleaned and homework finished because that is what you are supposed to do!
No, you should not give them money for that. They are too young to learn money until they can get a paper route. Then they are ready to learn how to spend, save and invest for their future. Just giving your child an allowance for cleaning their room is not teaching them the value of money. It tells them its okay to be messy some days when you don't feel like doing chores. The only thing is you don't get paid. No big deal.Now, if you want to teach them that they need to do their chores, then keep them from doing the fun activities they enjoy like playing with their friends. Kids understand that.
I believe in spankings but I don't believe in using belts or other objects to beat your child. My mother tells me we were spanked as children but I do not remember it at all. The only thing damaged is hurt feelings. I just remember the lessons taught and I believe I am a much better person for it. All things considered the lessons from the olden days are best mixed with a few modern practices. No allowance for kids but taking away the i-pod and video games will get your point across.
And when your children are grown and they start to think for themselves and come up with ideas for bringing in more money to help the household: then the money lessons begin. Saving and investing is a good place to start. God Bless