This question is for parents. Do you plan to receive monthly allowance from your kids when they start work? Or will this practice become increasingly uncommon? - Seedly
Seedly logo
Seedly logo
 

Savings

Family

Lifestyle

General

SG Budget Babe

Mujimoro

Asked on 01 Jul 2019

This question is for parents. Do you plan to receive monthly allowance from your kids when they start work? Or will this practice become increasingly uncommon?

Personally, I don’t plan to receive a single cent from my children. The money is theirs to build their own families.

I’m curious to know what other parents are thinking.

0 comments

28 answers

Answer Now

Answers (28)

Sort By

Kim Heok S
Kim Heok S
Level 4. Prodigy
Answered on 02 Dec 2019

The parents I see around me are receiving an allowance, but could live without it. It's probably an Asian culture thing that children are doing this.

1 comment

👍 5
GuanYuan Tan
GuanYuan Tan

03 Dec 2019

People nowadays are increasingly affluent - I don’t expect my children to give me allowance when I’m old. But I certainty expect them to visit me once in a while!
Bjorn Ng
Bjorn Ng
Level 9. God of Wisdom
Answered on 24 Dec 2019

For me, I plan not to receive any cent from my children in future, I would not specifically ask my kids to give me allowance - I will leave it up to them and if there is, it's a bonus. And with that said, I do not plan to leave any inheritance to my children as well. To me, I hope not for my kids to know that there is something left behind for them. I will want them to work hard for what they want and achieve horizons beyond myself.

0 comments

👍 2
Junus Eu
Junus Eu
Level 9. God of Wisdom
Answered on 02 Dec 2019

I come from the other side ie. a working adult with my parents.

When I used to give a certain amount of cash, I find that it gets 'wasted' in my opinion on things like Toto. But that's just my parents.

So to mitigate that, I just buy all the necessities at home (washing powder, toilet paper, toothpaste, body soap, tissue paper etc) and healthy food (blackberries, blueberries, nuts) and pay for meals whenever I am with them, and also for big ticket items like replacement of washing machine, aircon, mattresses etc.

0 comments

👍 2
Yanisa Koh
Yanisa Koh
Level 6. Master
Answered on 02 Dec 2019

I would hope that I will raise my child to be a kind and generous person, who will be filial to me and want to take care of his family financially and physically. However, I will not expect or demand that they give me an allowance.

0 comments

👍 2
Loo Yan Hui
Loo Yan Hui
Level 2. Rookie
Answered on 24 Dec 2019

I will not set expectations on my children.

0 comments

👍 1
C
Cindy
Level 3. Wonderkid
Answered on 24 Dec 2019

My parents don't ask for money but i still pass them some money monthly.

0 comments

👍 1
Choon Yuan Chan
Choon Yuan Chan
Level 9. God of Wisdom
Answered on 14 Dec 2019

Following the trend that many non parents are answering; therefore i answer

Most parents now don't play to receive allowance from their children. This is because they have accumulated an adequate amount of cpf savings for their retirement unlike our forefathers who had low pay and a backward or non existent pension system

0 comments

👍 1
JL
Jayden Lee
Level 5. Genius
Answered on 03 Dec 2019

I believe at the end of the day, it's up to individual family relationship and dynamics. Some of my friends give 20% of their salary to their parents, while some do not at all.

0 comments

👍 1
Lynette Faith
Lynette Faith
Level 3. Wonderkid
Answered on 02 Dec 2019

I currently have a 1yo child and my parents are nearing 60. After having a family of my own, I feel a huge financial responsibility to provide for my parents and my child as she grows. As such, I believe the best gift I can give to my child is to not burden her in the future and hope to achieve financial stability for me and my husband without having our kids support us.

0 comments

👍 1
Brandan Chen
Brandan Chen, Financial Planner at Manulife Singapore
Level 7. Grand Master
Updated on 07 Jul 2019

I am not a parent yet but for most of my clients and friends, they do give monthly allowances to their parents. it may not be alot of money but its a token of appreciation and gratitude to their parents for bringing them up to the man/woman they are today.

For some, since their parents are still working and would most likely just keep the money in the bank account, instead of giving them cash, they help their parents invest the 'monthly allowance' for their retirement!

2 comments

👍 1
Charmaine Ng
Charmaine Ng

07 Jul 2019

I helped you to ask my mother and yes she expected to receive monthly allowances. However because she cannot manage the finances 😂 I ended up not giving her the allowances and instead buy the things she needed. If she is on a trip or something then I'd help to exchange the money and give to her and/or pay for the necessities like flight and accommodations.
Charmaine Ng
Charmaine Ng

07 Jul 2019

Also I pay for all the insurances/groceries at home so yes, she pretty much doesn't lack anything.
Wilson Nid A Break
Wilson Nid A Break
Level 9. God of Wisdom
Answered on 31 Dec 2019

Not a parent yet, but i firmly believe that children are not a parents' retirement plans. One should prepared their own retirement plans, if possible.

That said, if my children start working & still stay in my residence, i would expect them to give me a monthly allowance in lieu of rent, utilities, groceries, misc.expenses

0 comments

👍 0
Heng Kai Le
Heng Kai Le, Mondomover at School Of Life
Level 6. Master
Answered on 31 Dec 2019

No, I don't.

However, I do hope that my children can largely pay for their tertiary education. I think you tend to value stuff more that you have paid for - not sure if this is a popular view since people are pumping money into their children's educational funds left, right and centre, heh

0 comments

👍 0
AT
Aaron Tan
Level 4. Prodigy
Answered on 28 Dec 2019

I think we are approaching a generation where many traditions and cultures will be broken. This action is mainly an act of fillial piety and there are many other ways to show it.

Personally, i will not make it compulsory for them to do so. But if they are able to, i will still be happy as it will show that they are in good control of their finances.

0 comments

👍 0
Cedric Jamie Soh
Cedric Jamie Soh, Director at Seniorcare.com.sg
Level 9. God of Wisdom
Answered on 24 Dec 2019

Yes, i intend to receive from my kid. (Although its going to be probably another 20 yrs later)

But the idea is not to spend it, but to let me kid knows that he needs to prepare monthly allowance for family.

Think about it, when he grad and start earning, that is the first time in his life that he is going to have thousands and thousands of spending money that no one else can dictate him on what to do.

He may splurge it monthly as a young adult (i seen this with my friends)

so a bit of allowance for parents is good.

If I am blessed that I don't need his money, I will save it up for him and pass back to him on his wedding day.

0 comments

👍 0
Eunice Yip
Eunice Yip
Level 4. Prodigy
Answered on 24 Dec 2019

Yes I plan to. Not so much about how much I expect them to give me but it is about teaching them about responsibility and how to do proper financial planning.

0 comments

👍 0
Eveline Lau
Eveline Lau
Level 6. Master
Answered on 23 Dec 2019

I intend to receive money from my children. The amount will be highly dependent on my financial+health state at that point of time but even if I'm affluent at that point of time, I still intend to receive a "token sum" from my children as a way to teach them the idea of being responsible for your parents and be less selfish, care about the people whom you should care for.

I can't explain this very well but I've seen many caucasians who don't seem to care much for their parents because they've grown up with an individualistic mindset that whatever they earn is their entitlement for 100% keeping and nobody, literally nobody, should get even a cent from them. If receiving some money from my children can steer them away from that kind of extreme mindset, I would do that _<

0 comments

👍 0
Isabel Wong
Isabel Wong
Level 6. Master
Answered on 14 Dec 2019

Not a parent but I won't plan to receive monthly allowance from my kids in the future unless they are still living with me. They should at least cover their phone bill, utilities and groceries (basically cover their own living expenses).

That's the way I view my monthly allowance to my parents. If I'm not living with them I'll probably not give them allowance and just give gifts now and then.

0 comments

👍 0
VC
Vicki Chng
Level 6. Master
Answered on 13 Dec 2019

Not a parent, but I strongly believe in giving my parents some. I put it into their CPF every month as they don't need it now, and in future I'll expect my kids to give me a small amount as well. It's not about the amount, but it's about the gesture instead

0 comments

👍 0
M
Meng
Level 3. Wonderkid
Answered on 09 Dec 2019

Yes. No need fixed or big amount, give within their means. We have raised them, but we don't want to burden them too much.

0 comments

👍 0
CS
Christina Seah
Level 3. Wonderkid
Answered on 08 Dec 2019

Yes, however it would be within their means. However, I do see a generational shift where the rising costs of living have led to some parents deciding not to receive a monthly allowance from their kids. Ultimately, it depends on the financial situation of our kids and us.

0 comments

👍 0
Load more answers