Do you believe in paying kids an allowance for doing tasks around the house? This has become a hot button topic amongst friends and family that have strong opinions on “kids these days”. With things like Greenlight, it’s even easier to set up an allowance system.
Yet, you have some who say parents teach a bad lesson by focusing on the payout rather than the chore.
Personally, I’ve dabbled in allowance as a tool to teach money management. At the time, I had this fabulous idea that I could teach my daughter how to save, spend and give by allowing her to do a few things around the house to earn money. Well, very early on, I realized that chores only got done when she wanted to buy something… hmmm…
Then, that great idea about teaching how to manage money was a bit challenging with a spender. Before we could even talk she had purchased something in the lunch room or bought popsicles for her friends at the park as a means to “give”.
I took a break from allowance and now she just had chores that need to be done for no wages. I am thinking of trying again now that she’s older. What’s your take? What’s your experience?