What’s a good weekly allowance for a 10 year old that’s a pretty damn good kid in general? She will be earning it each week so is not a guarantee, but she’s been great about taking on more responsibility and I think it’s time she have some of her own pocket money.
Discussion
40,000 sats.
40k sats 🤙
50,000-100,000 sats (or $10-$20 approx.) per week. I got about half that at that age for doing chores around the house. Accounting for inflation, (I know, lol), would at the very least allow for saving up for something she wanted or the occasional book/movie/video, depending on her likes/dislikes. (I’m using my eight year old son as a gauge and something we actually discussed this evening.)
We do $5/week on a goHenry card. Looking for a crypto solution 😁
I’ll look that up!
I ✋ do $0.50 per time the littlecritter feeds the 🐶.
Best investment (besides this 🟠🟣) I’ve made into the littlecritter. Provided a lot of ownership.
We decided on a time window 🪟 in the morning & evening. If littlecritter did their job ✅ then they write ✍️ how much they earned on the whiteboard.
If littlecritter did NOT feed during the time windows we talked about then I ✋ first try and ask them why they didn’t to help them process internally where the error occurred.
Then littlecritter feeds the the 🐶 for NO money 💰 since they didn’t hit the time window.
I keep it low key 🔑 either result.
Can see 👀 littlecritter’s responsibility growing.
Keep up the great 👍 parenting. I’ve found thinking 💭 more helps in and of itself.
🤙.
#freecritterparent
What could be a relatively easy way to pay my daughter her allowance in btc but she can easily use it as she wants to? She’s been learning about bitcoin her whole life, it would be RAD to start teaching her about how to actually manage bitcoin and also see for herself how cool it is to save in bitcoin!
Something my old man would do is whatever my sister or I would earn from working and put into our savings accounts, he would match. Might make more sense when she's a little older but you could so something similar with BTC and cold storage
Give her an open dime or satscard piggy bank. Print QR code and tape it somewhere in her room for quick tips/allowance.
Try giving each chore a bounty.
Maybe I get her a hardware wallet and do $5/wk cash and “match” what she earned in btc on the wallet: 20k sats each week… 💭
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I am torn on allowances vs pay for tasks. I think they should have responsibilities and incentives/feedback for their efforts. I think the most important thing is that they always spend less than they make ... always save.
“She will be earning it each week”
A little bit 401K ish going on there with the "match" -)
I don't think you have to worry yet about her switching employers
I've always liked the philosophy that some chores you get paid to do, AFTER other chores you're expected to do as a productive member of the family.
Then bonus opportunities exist. Something out of the ordinary, or something you do that's someone else's job.
Entrepreneurial kids with siblings can rake it in.
Parent(s) get more flexibility to start a lower base.
I also like to give my kids small, unexpected money when they show good character, or work at a positive habit I'm trying to instill.
I agree! She’s been doing more around the house and at school this year with NO incentive other than she’s supposed to, so I want to reward her on top of that. 🙏