When Should I Give My Daughter an Allowance, If Ever… Dave?

July 3, 2018


Dear Dave,

Our daughter just turned 10 years old.

Is now the right time to start giving her an allowance, and start teaching her about money?



Dear Danielle,

I’m glad you’re going to teach your daughter about money.

But in my mind, there’s never a time for an allowance.

I believe that kind of thinking, and using words like “allowance,” are some of the best ways to instill an attitude of entitlement in a child.

I don’t think you want your daughter growing up with the idea she deserves money simply because she’s alive.

My advice is to develop a method by which she can earn commissions.

Write down a daily or weekly list of jobs around the house that are age-appropriate she will be responsible for doing.

Then, at the end of the week, she gets paid for jobs she completed — and she doesn’t get paid for the ones she didn’t do.

The idea is to teach her that work creates money, and teach a healthy work ethic at the same time.

Of course, there are some things a child should be expected to do without financial reward.

Everyone needs to pitch in, and do certain things to help when they’re part of a family.

And once you’ve taught her about the importance and rewards of work, make sure to also teach her about the three uses for money — saving, spending, and giving!


* Dave Ramsey is CEO of Ramsey Solutions. He has authored seven best-selling books, including The Total Money Makeover. The Dave Ramsey Show is heard by more than 14 million listeners each week on 585 radio stations and multiple digital platforms. Follow Dave on the web at daveramsey.com and on Twitter at @DaveRamsey.