Childhood Allowances - How Often Should You Pay Your Child an Allowance?

There are many factors that go into setting up an allowance program for your child. One of the decisions you'll have to make, of course, is how often you pay the allowance.
As with most parenting issues, there's no one-size-fits-all, although the age of your child will probably end up being a factor.
Here are 3 possible allowance payout schedules along with a brief discussion of the pros and cons of each. #1 - Weekly Allowance Schedule A weekly allowance is often the easiest and most simple approach.

The shorter schedule literally gives younger children more opportunities to receive an allowance and therefore more opportunities to experience the benefits.
Depending on what the allowance is expected to be used for, it can also be appropriate for kids of all ages whose school schedule and expenses are more weekly based. The drawbacks include the inconvenience factor for parents who must remember to pay every seven days and to always have the appropriate level of cash on hand. It may also discourage longer term planning in older kids.

#2 - Biweekly/Twice Monthly Allowance Schedule Paying an allowance either every two weeks or twice a month is also a popular choice for children of all ages.

Many parents will go this route and set up the allowance schedule to correspond with their own pay schedule. The advantages here include encouraging longer term budgeting and money management by children as well as increased identification with the "real world" of adults in the form of their parents (assuming their parents are on the longer pay schedule).
#3 - Monthly Allowance Schedule Paying your child an allowance on a monthly basis is not the most common choice but there are still some advantages that should be considered.

Even in younger children, there's an advantage.
With their short attention span and impulsive urges, an allowance is often viewed primarily as something that's spent immediately in order to get some kind of toy.
A monthly allowance uses their short attention span to their advantage, enabling them to go long stretches without thinking about money (primarily the spending of it).
A monthly allowance also encourages longer term thinking and planning.

One of the most important qualities or values a parent can instill in his or her child is the ability to think long term, not just as it pertains to money management and personal finance, but in every area of that child's life.

Conclusion The more you think ahead concerning all the different factors that go into paying an allowance, the better your chance at designing a successful allowance program that's best for your entire family, including your ability to pay it consistently, whether that's weekly, monthly, or somewhere in between.