Wednesday, September 09, 2009

Dr. Leman, are you a quack?

We started giving the boys allowance about a month ago. I recently re-read a book by Dr. Kevin Leman and he suggested giving allowance in order for kids to learn about money management and decision making. Dr. Leman teaches that "allowance is something each child should be able to spend as he or she sees fit."

We decided to give the following weekly allowance: Zane $2.00, Luke $1.50 and Cade $1.00

I believe it was the second week of allowance we were in Wal*mart and unfortunately went down the candy isle. Zane picked out a package of eight (8!) little Kit-Kats. Cade picked out a box of about one hundred (100!) Mike and Ike candies. I started muttering to myself about how Dr. Leman is absolutely crazy! I was sure the boys would make themselves sick and then wouldn't eat dinner; therefore, wasting more money. Seriously, what was "DOCTOR" Leman thinking!? "Spend as he or she sees fit" -- really? However, I must admit, I was surprised to learn that the boys apparently have more self-control than I do at 35. Zane gave each of us a Kit-Kat on the first and the second day. That meant he only ate two little Kit-Kats. He decided that the next time he would break each little Kit-Kat in half in order for them to last even longer. Cade shared his Mike and Ike candies and then I suggested that he hide them until the next day which he did. The next day he got them out and then after awhile came to me and said, "Mom! I ate too many! What I should do?" I again suggested he hide them and he did. He finished them on the third day. They would have NEVER lasted that long when I was a little girl, let alone now. So, I guess that turned out okay; although, I am hoping that each boy "will learn that it is foolish to be extravagant and to waste his money for the entire week on candy" like Dr. Leman believes they will. [That wouldn't have worked for me, Dr. Leman.] If not, Dr. Leman gives permission to step in after a few weeks.

Regarding allowance in general, I have so far learned:

Zane (7) likes to save his money for something "useful", buy a gift, or enjoy an occasional treat. Money does seem to be on his mind a lot. He can hardly wait for allowance day and talks and talks about what he is saving for. He has asked me if I will give him more money to reward him if he chooses to save his allowance. Unbeknownst to Zane, Dr. Leman actually did that for his children. For every dollar that his children chose to put in the bank, he would also put in a dollar. I am very curious how my 7-year-old could came up with a fund-matching savings plan when he hasn't been taught of such things.

Luke (5) will spend it, save it, give it away, or even throw it up in the arborvitae trees in our yard where they have a fort. I am still wondering if the money will come back down. Luke thinks the birds might use it to build a nest. For another example of his view of money, this weekend I heard him say to his brothers "What do we need money for anyway?" He does really like playing with it which I am not fond of.

Cade (4) is an impulse shopper and loves to buy candy, candy, candy or gum! When he did end up with a relatively large amount of money for his birthday, he thought of a couple toys he wanted, but would have been just as happy with a pack of gum. Like Luke, he really likes to play with the money. And it also seems that he is more concerned about how many things he gets to buy. He may not know what he wants at the store, but he has determined he wants three things. Interesting, don't you think?

Another lesson I have learned: My life was easier before allowance. My boys had been taught not to ask for much at the store and they usually didn't get anything special while we were there, except free cookies from the bakery. Now, my shopping trips seem filled with little ones making "big decisions" as they peruse the isles I go down. I wonder how much time, if any, I should allow them for shopping? I also wonder, even though they enjoy having their own money, is it benefiting them enough to justify the expense of time and money?

As for me, the jury is still out as we continue this experiment in allowance and I would gladly accept suggestions.


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