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Barack Obama Cheaps Out on Daughters' Allowance
Filed under: Celeb Kids, Celeb Parents
There are a few different schools of thought when it comes to giving children an allowance. Barack and Michelle Obama have a slightly different take.
Some parents feel that giving kids a little spending money of their own, say $10 per week, will teach them how to budget and manage their finances. Like a real job, this weekly stipend is often tied to work -- chores, school performance and so on. Then there's the other two extremes: Mommy ATM or Daddy Scrooge.
The Obamas seem to be taking a fairly frugal stance. Assuming they take care of their chores, first daughters Sasha and Malia are said to get a $1 each weekly allowance. One dollar.
I don't understand the point. Janet Bodnar of Kiplinger's Personal Finance doesn't get it either. "With an allowance, kids learn how to be patient and save money for something they really want," she says.
An allowance of just four quarters a week requires a lot of patience. But by the time Sasha and Malia have enough money saved for that really cool Webkinz they've had their eye on, it'll be retired and only available at an inflated price on eBay.
Maybe that is the point. Delayed gratification to the point where you just give up? Perhaps. But the Obama girls are due for a little stimulus package of their own. Bodnar recommends a weekly allowance equal to half the child's age. In this case, 7-year-old Sasha would get bumped up to $3.50, with Malia, 10, at $5.
Far be it for me to tell the President of the United States how to spend his money. But like most of you, I'm hoping that he knows what he's doing when it comes to finances. After all, he is in the process of handing out some heavy duty allowance to jump start our failing economy.
One dollar a week! How much, if any, do you give your kids for allowance?
Some parents feel that giving kids a little spending money of their own, say $10 per week, will teach them how to budget and manage their finances. Like a real job, this weekly stipend is often tied to work -- chores, school performance and so on. Then there's the other two extremes: Mommy ATM or Daddy Scrooge.
The Obamas seem to be taking a fairly frugal stance. Assuming they take care of their chores, first daughters Sasha and Malia are said to get a $1 each weekly allowance. One dollar.
Malia and Sasha Obama
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The newest Obama trend, courtesy of Sasha, 7, is an Ugly Doll by the name of Babo's Bird. Photographed with the stuffed toy on her backpack, Sassy Sasha sure is trés-cool for school.
Callie Shell, HO/Change.gov
Malia and Sasha's Excellent Adventure
Malia, 10 (right) and Sasha, 7, wave to the crowd at the 2008 election night rally in Chicago. Politics are child's play to these sweethearts, and we can't wait to see them come into their own.
Jae C. Hong, AP
Sasha and Malia, kissing her mother Michelle, get ready for the first day of school in Washington, DC, as President-elect looks on. The Obama family are staying at the Hay Adams Hotel prior to their move into the White House.
Callie Shell, HO / Change.gov
US President-elect Barack Obama orders shave ice treats with his daughter Malia and Sasha during an afternoon outing in December 2008 in Hawai'i Kai, HI.
Tim Sloan, AFP / Getty Images
The girls kept it casual on their Hawaiian vacation, enjoying days at the beach with friends and shaved ice treats and a dolphin show with their dad.
Bauer-Griffin / Getty Images
Malia gives Barack Obama a big hug -- followed by one from Sasha -- at the Honolulu Zoo on December 30, 2008.
Tim Sloan, AFP / Getty Images
Sasha (left) and Malia Obama stayed in Chicago for Thanksgiving 2008, squeezing in some volunteer work with their dad at a food bank at St. Columbanus Parish and School. The President-elect said he wants the girls "to learn the importance of how fortunate they are, and to make sure they're giving back."
Jim Watson, AFP / Getty Images
Sasha and Malia walk to school in Chicago after their father dropped them off in November 2008. Sasha takes gymnastics and tap classes while it's soccer, dance, drama and (by the looks of the case) flute for Malia.
Charles Dharapak, AP
The Obama family wave during a rally at the Ohio State House in Columbus, OH, two days prior to Barack's historic election to the White House.
Getty Images
The Obama clan leave a restaurant in Chicago in August 2008. We know where the President-elect stands on taxes and bailouts, but about comfort food vs cuisine?
Emmanuel Dunand, AFP / Getty Images
I don't understand the point. Janet Bodnar of Kiplinger's Personal Finance doesn't get it either. "With an allowance, kids learn how to be patient and save money for something they really want," she says.
An allowance of just four quarters a week requires a lot of patience. But by the time Sasha and Malia have enough money saved for that really cool Webkinz they've had their eye on, it'll be retired and only available at an inflated price on eBay.
Maybe that is the point. Delayed gratification to the point where you just give up? Perhaps. But the Obama girls are due for a little stimulus package of their own. Bodnar recommends a weekly allowance equal to half the child's age. In this case, 7-year-old Sasha would get bumped up to $3.50, with Malia, 10, at $5.
Far be it for me to tell the President of the United States how to spend his money. But like most of you, I'm hoping that he knows what he's doing when it comes to finances. After all, he is in the process of handing out some heavy duty allowance to jump start our failing economy.
One dollar a week! How much, if any, do you give your kids for allowance?
| Fair - it sets a good example for the girls. | |
|---|---|
| Cheap - who gets ONE DOLLAR A WEEK?!? | |
| Kids don't need an allowance! |
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ReaderComments (Page 1 of 13)
2-11-2009 @ 10:48AM
ame s said...I give my kids (9 & 11) $5 a week. They can earn more by doing additional jobs around the house.
Reply
2-15-2009 @ 4:10PM
chrihazy1 said...At this point I don't think that's unreasonable. Growing up (not so very long ago...) my brother and I got one dollar for every grade we were (kindergarten = $.5, 1st = $1 etc) up until high school when we got set allowance of $20, $10 of which was meant to go towards breakfast/lunch money during school (and we got our allowances on the first Sunday of every month). So we learned to budget, cause if we needed that lunch money for something else, like going to the movies with our friends/gas money, we'd get up before school and make a pb and j sandwich or something to have for lunch.
2-11-2009 @ 11:21AM
windex said...I go with half their age but require some (their choice in how much) go to savings and charity - the rest they can do as they please.
Reply
2-11-2009 @ 2:58PM
Kirstie said...I never got an allowance growing up! My mom would give me money once in a while to go out with, but it was a rarity - by the time I was old enough to be going out to the movies with friends without my mom (seventh grade, btw), I was also old enough to babysit and make money myself!
Reply
2-11-2009 @ 3:06PM
Clarissa said...My daughter who is 13, doesn't get an allowance. I don't pay for chores that have to be done. I give her money when she needs it.
If she wants to borrow money then she must do extra chores to pay it back. If she chooses not to pay it back, the next time she needs money, say for the school dance, she doesn't get it.
Life is tough, teaching your kids that early on is a responsibility all parents have. Life is not handed to you on a silver platter, and not everything is fair. The younger they learn that, the better.
Reply
2-11-2009 @ 9:48PM
somacrew said...No you dont hand it on a silver platter but they do need spending money. Children who are tought to handle money (save some, spend some,donate some) are better able to manage money as adults.This is something many adults NEVER learn. Just look at the problems in our society now. As for household chores I feel they should be done because it is expected for all family members to chip in to the care of the home. Garbage has to go out dogs need to be fed and walked etc. This is not something they should get paid for.It is just part of being a family. Allowance should be just so a child has pocket money for little things. It helps them feel independant. It also helps them with shoplifting problems when they are a little older because if they can purchase little things when younger they have already learned the basic rule that if you want something you must pay for it and if you cant afford it you cant have it. (something some kids have to learn the hard way) and something some adults NEVER learn!
2-11-2009 @ 10:16PM
Steve said...Agreed ! Besides, when are these two gonna be allowed out to the mall? Think of the security and stuff! And how much stuff do they get for birthdays, Xmas / Kwanzaa / Hannukah, etc? I'd bet they don't have a real need for money.
2-11-2009 @ 10:27PM
heidi said...Amen! I never got an allowance when I was growing up. My kids don't get an allownace now. I refuse to pay my kids to do something that they should be doing anyways. They are part of the family. They should share in the responsibility. If you pay your children to clean the house or take out the trash they will grow up thinking they should get paid for everything they do. They will grow up acting like spoiled brats and will probably be too lazy to do it for themselves. They will probably end up hiring someone to do it for them. That is what is wrong with the kids today the way it is. They are basically able to do what they want when they want. And get paid for it. Not this mom!
2-11-2009 @ 3:23PM
isisaquaria said...My dd 13yo gets $50 a month, my 6yo gets $25 the twins will start at $10 a month for toy pick up at two.
Reply
2-11-2009 @ 9:49PM
KATHY1022 said...WHAT IN GOD'S NAME DOES A 13 YR OLD NEED WITH $50.00
A MONTH. WHY SHOULD WE PAY OUR KIDDS FOR DOING
CHORES WHERE THEY EAT,SLEEP AND LIVE. IT'S THE
PRESIDENT AND HIS WIFE'S BUSINESS HOW MUCH THEY GIVE THEIR CHILDREN. SOMETIMES IF YOU CAN'T HANDLE A
LITTLE HOW CAN YOU HANDLE A LOT. WE SPOIL OUR KIDDS
ENTIRELY TO MUCH, IT'S PROBABLY BECAUSE OF WHAT WE DIDN'T GET WHEN WE WERE COMING UP. THOSE TWO LITTLE
GIRLS ARE NOT COMPLAINING. AFTER ALL A MOTHER AND FATHER KNOWS WHATS BEST FOR THEIR CHILD!
2-11-2009 @ 11:06PM
isisaquaria said...Half in her savings--half to spend as she chooses. Last report card straight 100's earned $100 dollars--all of which she put in her savings by choice. She and the 6yo have all they need, but teaching them how to handle money is vital. Just like building credit, my 13yo has a credit card as well--low limit, but with our guidance--she will have a good credit history way before most of her peers.
Her room is the only thing she cleans....nothing else-not her job. The ones who say they need responsibility, they have it--GRADES and the future that lay ahead.
As for Obama,, don't know or care-just waiting for 2012.
2-12-2009 @ 1:44AM
cool mom of 5 said...Well with those wages you must have a pretty hefty purse I have five boys who get money for chores or when they need it.. But they do have to earn it money does not fall off trees my husband and I have a hearty income and we could not afford those fees unless they were necessary, except the normal everyday needs in todays economy it is hard to make ends meat even with a comfortable income as we have my boys don't want for much, but they do of course have to earn just as we do, and guess what i'm their boss and there allowance can be what ever I want it to be and they are blessed with what what they receive.
2-18-2009 @ 2:22AM
bluezwmn said...Fifty dollars a month sounds like a lot, but it's not--at least in today's economy. Broken down by week, it's $12.50, which sounds fairly decent. That's a movie...with a little bit left to save towards a CD or DVD. Doesn't even cover movie with popcorn and sodas nowadays!
2-18-2009 @ 2:39AM
isisaquaria said...I wondered if anyone would do the math--it isn't as much as it seems.
2-11-2009 @ 5:22PM
Pavlina said...This is ridiculous. It is only the Obama's business how much allowance they give their kids. I think a dollar a week is appropriate for a 7 year old, maybe a 10 year old also. It really isn't any of my business and I really don't care.
Reply
2-12-2009 @ 10:59AM
jaclyn said...wowww godbless the dumbass that took time to write this article who cares what they get for allowance im sure they have whatever webkin animal they want and every dress and pair of shoes alittle girl could want so whats that 1$ really going to do , nothingggggg
i wasted my life reading thissss !!!!!
Reply
2-11-2009 @ 8:21PM
Ruth said...What business is it of ours to question what parents decide to give their children for an allowance? Since the children are obviously not neglected, I'd say it is nobody's business except the parents.
Reply
2-11-2009 @ 8:17PM
Driver X said...They are learning early about life in America with Obama in charge.
Reply
2-11-2009 @ 8:30PM
Fish said...I'd set it at $10 a week for Malia and $5/week for Sasha. I mean, c'mon, it's a lot more work to be the president's daughters. That should entitle them to a little more. But don't suddenly expect them to start buying their own stuff.
Reply
2-11-2009 @ 8:30PM
Mitchell said...My 17 year old get $20 a week and my 19 year old (at college) gets $50 a week. Reading all the other responses....I think they're overpaid!
Reply