Allowance chore chart: Teach kids to manage chores and allowance

Are you a teen looking to earn some extra cash or save up for something special? Maybe you're trying to find a way to make money that doesn’t involve asking your parents all the time. An allowance chore chart might just be the perfect solution.

This guide will show you how to set up an effective chore and allowance chart, how much you could be earning, and how tools like Modak, one of the best chore and allowance apps for teens, can help you manage your money better.

What is an allowance chore chart and why do you need one?

An allowance chore chart is a simple but powerful tool that helps you keep track of chores and the money you earn for completing them. Think of it as your personal finance starter kit. By setting up a chore chart, you not only get paid for your hard work but also learn essential skills like budgeting, saving, and understanding the value of money.

Download Modak's free allowance chore chart printable

Keep your kids motivated and on track, get your free printable chore chart today!

Benefits of using an allowance and chores chart

• Organization and accountability: Helps you stay organized and know exactly what needs to be done.
• Financial literacy: Teaches you the basics of earning, saving, and managing money.
• Incentivizes hard work: Provides a direct reward for your efforts, encouraging a strong work ethic.

How to create your own allowance chore chart with prices

Creating an allowance chore chart with prices is straightforward and fun! Here’s a step-by-step guide:

1. List out chores: Start by listing all the chores that need to be done. These can be daily tasks like making your bed or weekly jobs like mowing the lawn.
2. Assign values to each chore: Determine how much each chore is worth. For example, $2 for taking out the trash and $5 for vacuuming the living room.
3. Create a schedule: Decide how often each chore needs to be done, daily, weekly, or monthly.
4. Use a printable tracker: Use an allowance tracker printable or a money printable allowance chore chart to track completed chores and earnings. You can go digital or print one for the fridge.

Understanding allowances: What’s fair?

When setting up an allowance for kids or teens, it's important to find a balance that feels fair and age-appropriate.

• Age-appropriate tasks: Younger kids might earn $1 to $5 per week, while older teens may receive more.
• Chore difficulty: Harder chores should be compensated accordingly.
• Monthly allowance for 16-year-old: A reasonable monthly allowance for a 16 year old might range from $40 to $80, depending on responsibilities and family budget.

Should chores and allowance be tied together?

Some families link allowance and chores, while others separate them. Here are the pros and cons:

• Responsibility over reward: Some chores are just part of contributing to the household.
• Motivation to work: Financial rewards can encourage teens to complete their tasks.
• Financial responsibility: Helps teens understand the link between effort and earnings.

Apps to track chores and allowance for teens

There are several great apps to track chores and allowance for teens that help automate, organize, and even gamify the process:

• Modak: A chore and allowance app designed for teens, offering chore tracking, rewards in MBX points, and a Visa® Debit Card with transparent usage terms
• iAllowance: Easy-to-use digital allowance tracker printable.
• Homey: Connects chores to real money and bank transfers.
• ChoreMonster: Makes chores fun with gamified features.

Making extra money beyond allowance with Modak

Modak lets teens go beyond chore earnings by offering multiple ways to make money:

• Earn MBX points: Complete daily tasks or use "Walk to Earn" to get up to 70 MBX a week²
• Convert to dollars: MBX points can be turned into cash and spent with the Modak Visa® Debit Card¹.
• Payment link feature: Teens can get paid via direct deposit or a shareable payment link, perfect for side gigs.

Chore and allowance chart templates and printables

Using a money printable allowance chore chart is a classic method that still works great for many families. Here’s how to make yours effective:

• Make it visible: Place the chart somewhere noticeable.
• Update weekly: Keep it current and accurate.
• Use bonuses: Add rewards for above-and-beyond work.
• Customize: Tailor the chart to each teen’s skills and age.

Frequently asked questions

1. What is a reasonable allowance for a 13-year-old?‍

Typically $10 to $20 per week, depending on tasks and difficulty.

2. What is the going rate for chores?

• Simple Chores: $1–$2
• Moderate Chores: $3–$5
• Challenging Chores: $10 or more

3. Why link allowance and chores?‍

It motivates teens to work, promotes responsibility, and simulates real-life job reward systems.

Start your financial journey with Modak

With a well-structured allowance chore chart, teens can build solid financial habits and learn to manage their money. Whether you're using a printable chart or a smart app like Modak, taking control of your chores and income is the first step toward independence.

Download Modak today and get started on building your future, one chore and dollar at a time.

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1. Deposit account and the Modak Visa® debit card issued by Legend Bank, N.A., FDIC-Insured. Funds deposited into a Deposit Account may be eligible for up to $250,000 of FDIC insurance.The FDIC’s deposit insurance coverage only protects against the failure of an FDIC-insured depository institution.
2. 100 MBX = $1(as of June 2024). This is an approximation and not a guaranteed result. For more information on MBX, visit: Click here for more information on MBX
3. Walking 5,000 steps a day gives users 10MBX (as of June 2024). This is subject to change at Modak’s discretion
4. Fees for expedited or premium services may apply. Find out more in our Cardholder agreement.