Should Kids Get Paid For Chores And School Performance?

This is a tough question... On one hand it may be a bit confusing to tie allowance directly to chores because we should be teaching our kids to help around the house when its needed, not just when it is part of their "to do" chores.  Also, it can be very easy for parents to lose track of the chores that have actually been completed. A good idea to solve this dilemma is to add a little bit of structure to the list of "to do" chores. I think that it's a great idea to create a daily chart (large enough to be noticed by your child and in a visible area) with a list of the expected chore duties and write the earning next to it (e.g., Monday, vacuum room, $2.00). In addition, we should encourage our kids to continue to help around the house even when its not on their "to do" list.

We should use our kids allowance as a means of teaching financial responsibility, for example, we can encourage them to save their allowance for a toy or gadget that they have had their eye on, a birthday gift for grandma or grandpa or a trip to the movies. As kids become teenagers , this gets a bit more tricky, but you can negotiate by offering to match their savings by 50%.

As for paying kids to do well in school, they should be praised with hugs or maybe a celebratory treat for doing well, but never with money.

Below I have listed a few recommended books for teaching kids about money:

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