Saturday, February 5, 2011


For several months, Andrew, Ethan, and Abby have been collecting allowance weekly. We hope that this will help them to develop and practice good habits in relation to money. Our "Tapper Family Allowance Contract" reads:

Beginning in the summer of 2010, it is decided that any child in the Tapper
family, age 5 or older, is entitled to a weekly allowance. An allowance is a set
amount of money, given weekly, to enable a child to pay for things that are
important to him or her.

The Tapper parents must promise two things.
1) Allowances will be given at the rate of .50 x AGE. (For example, a 5-year-old
will receive $2.50 and an 8-year-old will receive $4.00.)
2) Allowances will be given each Monday.

A Tapper child must promise two things.
1) Allowances will be a way to learn about using money wisely. Part of wise money
usage is tithing. At least 10% of the weekly allowance will be given to God.
Also, at least 10% of the weekly allowance will be put aside in personal savings
for four months.
2) The rest of the allowance money will be used as desired, and there will be no begging for more.

As in all things, we remember our values: In our family, we work hard together, we play hard together, and we share. In our family, we LOVE.
By signing this contract, we agree to the terms above.

This week, each child counted up the money they had been saving and made a purchase. Andrew selected a digital video camera, Ethan brought home a snowboard, and Abby picked out a small fish aquarium (includes Celesse, the beautiful blue beta).

The handling of finances is such an important matter, yet one that seems to be so easily set askew in our society. I hope and pray that our children will continue to learn how to handle money in a way that honors God.


anxiously hopeful said...

Wow, what a fun shopping trip. We've been doing the Dave ramsey method of allowance for a year or so (much like your) and it's a great tool. By the way, I love Andrew's hair like that!

Andrea said...

The Tapper Parents are very generous with allowances! (Can I live with you?)

Martin gets $1.00 a week. I'm glad he's not reading your blog.


Mom/Linda/Nanny said...

Wow darling grandkids...what great choices you've made for your saved money!!! Isn't it so much fun saving up for something so special? I loved the photos of you holding your treasures. I'm so glad that you have learned that God always gets the first 10%. Love you....Nanny

Kathy said...

I was referred to your blog by Jack Heddon, who was a great friend and roommate to my hubby's brother. He attended your church in Bangor. Jack referred me after reading some of my newly started blogging( saying that I would "find some stunning parallels between" our families.

From my first glances, I'd agree! (transracial adoption, pastor family, busy household, etc.) I chose to write to you here first as I really like your allowance contract. We have been wondering on and off about allowances for sometime...always saying we'd get it started and then not making it happen. This post may help us kick start it. :) I really like the contract.

At anyrate, I look forward to reading more from you. Feel free to stop by my blog if you'd like. I'm still working on the format...but it's coming.

God bless!