Chore Charts, Allowances, and Savings!

So we have made a chore chart for the kids...I'll let you know how it works for us...modifications may need to be made.
They have alternating days on some things or alternating times of day. 
I have made it color coded, Yellow=morning, Blue=evening, Purple=anytime.

The kids will start getting an allowance ONLY if EVERYTHING on the chart is done each day. Each Sunday we will dole out allowances. I am thinking $.50 a day. At the end of the week, they will each earn $2.50 spending money and $1.00 will go into a savings jar for each. At the end of a year, that is $130.00...not bad money for 4.5-5 year olds. They will each have saved $52.

I know some people think that chores don't let kids be creative, or steal their childhoods, but you know what? I did chores as a child and I'm ok. Also, it teaches that if they make a mess, they need to clean it. I like to have a clean house and I don't like having to get onto the kids about it, so if they are rewarded for doing it, I think it will be better. I wanted to add more to it, like folding laundry, unloading the silverware from the dishwasher, dusting, cleaning windows, and more, but we will see how this list goes first. I may add an "extra credit" type of chore list for them each later (or just an extra page).

Next, I went with $.50 a day because it is something they can see fill up a coin jar. They will get paid in quarters. It also allows us to work on math, coin counting, and more.


Why the savings? Well, I think it's important that they learn how to manage their money. I wish I had better learned how to do that while growing up and it's something I still struggle with today. If they only fulfill two days worth of chores, they will earn no money that week, but the $1 will still go into savings. Sorry kids responsibility is tough, but at least you don't have to pay taxes!