Why Is It a Good Idea to Pay Your Kids for Chores?


Lately, I’ve started a system where each of our boys has a couple of new chores he must do each day. Yes, even the 4-year-old. I instituted this because I actually cannot keep up with the housekeeping all myself anyway.

I pay them a quarter for each of those jobs, plus I give them extra coins when they exhibit a wonderful attitude.

I’m able to pay them on the spot because I have a big juice jug full of change.

This has been working extremely well for us. Though yes, I always inspect their work, and make them fix things they’ve skipped over, like little Lego men peeking out from under the sofa.

 

Killing bugs for mom also counts as a chore. The 3 of them teamed up to kill the cicada under that stack of books! That particular job was free of charge. Ha!

 

Today I have asked Josh Wilson, of FaithFamilyFinance.com, to fill us in on why paying children for chores is a MARVELOUS idea, not just for us, but for our kids too….

 

Why Is It a Good Idea to Pay Your Kids for Chores?

One financial decision you will need to make with your children is if you should pay your children to do chores. There are several different reasons why this is a good idea. For starters, they can learn valuable life lessons. If you are on the fence about paying your children for chores, read more to find out why it can be a good idea.

Adults Work for Money

Adults work to earn money because they have bills to pay. Paying children for chores teaches them the value of work. They can learn about the incentive of working harder to earn more money. Just as you don’t get paid if you don’t work, you have the option not to pay your child if they don’t complete their chores on schedule.

Until your children are old enough to get a part-time job, paying your children for chores can be a good way to allow your children to work for a goal instead of simply being given everything they want.

It's a great way to teach your kids to work for a goal rather than being given everything! via @AprilandAlan storiesofourboys.com #responsibiityClick To Tweet

Chores Teach Commitment

Chores can consist of daily, weekly, and monthly tasks. Even if you decide not to pay your child for some everyday chores, money is a strong incentive to remain committed for additional chores. Your children can establish a work ethic early on.

Offering to pay your child for optional tasks that you don’t necessarily have to do is a good starting place. By not paying your child for every single chore they complete, you can reward them for their efforts while avoiding the entitlement spirit of thinking they “must” get paid for every chore or they won’t do it.

Chores Can Instill Entrepreneurship

Depending on your child’s personality, paying for chores can instill a level of entrepreneurship. By realizing they can make money by providing a solution to a need, completing chores in this case, they may decide to pursue their own side hustle as they grow older.

For example, if you pay them to mow the lawn, they might ask your neighbors to mow their lawns for cash. During the winter, they might offer to shovel driveways and sidewalks for extra cash. If you only pay them an allowance for not doing chores, they might miss out on these additional money-making opportunities.

Paying for Chores Establishes Expectations

As the parent, you can set the expectations for when your children will be paid for their chores. If your children don’t do it right the first time, have them redo the task to your satisfaction. Chores can be an excellent opportunity to learn attention to detail and working efficiently to maximize their earning potential.

Remember to consider your child’s age and experience when setting expectations. Just as there is a learning curve when you start a new job, your children will need to master new skills as well. As they mature, you can increase your expectations and maybe even give them a raise as well.

Chores Can Encourage Communication

Communication is a two-way street in every relationship. Paying for chores can teach your children communication skills that can benefit them in the professional world. On payday, you can review your child’s performance and encourage them or tell them how they can improve.

Your child can also improve their communication skills because they will learn how to accept feedback, good and bad, from their superiors. Chores can also teach negotiation. Your child might offer to perform additional tasks if they are trying to increase their income.

Children Can Learn Money Management Skills

Earning money allows children the opportunity to learn the value of saving money for future purchases and accomplishing other financial goals. If you offer them additional money for completing extra tasks, your children can have an additional incentive to work hard to achieve their goals sooner.

In addition to paying your children for chores, you can also teach them budgeting and banking. Instead of just giving them money and letting them go on a spending spree, you can have them divide their paycheck into saving, spending, and giving.

For example, you can help your kids open up a savings account and they can watch as their interest grows. Each month opens the doors for a new learning experience, and even earnings for your children. You should likely use an online account with low minimums and fees to help you children keep more of their money. My children use Capital One which has an account created just for them. This will prepare them for adulthood when a portion of each paycheck goes to taxes and living expenses.

Summary

Paying children for chores is one of the most debated topics about parenting. While no parent is required to pay for chores, doing so can teach your child valuable life lessons. If you decide to pay your child, remember that you don’t have to pay them for every single chore, and you can also base the payment on their performance.

 

 

Josh Wilson is the owner of a start-up personal finance blog, Family Faith Finance. Check out his blog and learn more about his journey through life.

 

 

4 Hacks to Help You Save and Pay for Your Child’s Higher Education

Allow me to introduce you to Jacob. Jacob is a finance blogger over at Dollar Diligence, where he writes practical tips like this post on food budgeting. Today I’ve asked him to share with us about college savings accounts. I hope you’ll stop by his blog and say hello!

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As a fairly recent college graduate — and as someone who just paid off hefty student loans — I know firsthand how expensive getting a college education can be. The cost of a degree is rising. What you may have spent on your own tuition and fees may not even cover a semester of your child’s tuition by the time he or she is ready to head off to a college university. The thought of paying for college in this era can be daunting. However, » Read more

How to Save Money Using Dealspotr.com

 

What is “dealspotr”?

I first heard of dealspotr.com a few months ago, and I didn’t know what to think of it at first. It’s a place to find good deals to save money, and you can share deals that you find too.

You can find coupon codes as well as sales on there.

My Experience with dealspotr

I thought, “Okay, you can post deals when you find them…eh…”


I found an exciting deal at Papa John’s, and if you know anything about my family, you realize this MATTERS to us, so I posted it on dealspotr to share the happiness. It wasn’t hard.  Past that, I kind of forgot about dealspotr.com.

Then came spring break. Saving money has been not just nice but necessary.

dealspotr coupons

Y’all! You can save some serious buck-a-rinos with this website.

The whole point of this website is to compile tons of good deals for all different types of things in one place. It’s the kind of thing thrifty people dream of.

Some merchants even offer exclusive deals through dealspotr.

When I use it, I head straight to the search bar.

Type in the place you are going or the thing you are trying to buy, and see what pops up. You never know. You could save hundreds on a vacation or just save $1 on your meal, but you won’t know until you search.

When I hear about a site that gives you deals, I like to see proof. Just how good are these deals? Are they worth taking the time to dig up?

Here’s what I found, to give you a few examples.

These are coupon codes that I found on dealspotr. I had spring break on the brain.

Legoland Discovery Center ——Get free child ticket with purchase of adult ticket coupon code (to be used to purchase tickets online)

Legoland Theme Park— Free child ticket with purchase of adult ticket. Copy code and purchase online.

Papa John’s Pizza—- 25% off code

 

Most deals that I found on there do NOT require a coupon code. These are sales. You can just click on the link and purchase at the discounted price.

How to save money using dealspotr.com

 

This swing set is $342 at Walmart right now (March 20th, 2017), as opposed to the regular price of $586!!!!!

And this deal was my personal favorite with Easter coming up:

Before I went to Starbucks, I typed in Starbucks. There was a 10% discount on there for Starbucks. Awesome.

I need to buy tennis shoes for one of my sons, so I typed in “Nikes”, and I found about 5 different pairs of Nike tennis shoes, on sale, that would fit Caleb.

40% off your purchase at the GAP was another exciting deal I found on my personalized feed. They offer suggestions for you on your homepage, but to me, using the search bar was the most helpful way to use this site.

Now, you may need to create your own dealspotr.com account to be able to see all of these links that I’m including.

But the good news is that it’s free to join, and you can adjust your settings so that you don’t get unwanted email.

Do you think I can talk Alan into buying the boys that discounted swingset I found? 

You can also actually earn points and money from this company.

Fill out your profile, and upload deals that you find to start collecting points.

The points you earn by posting deals for them adds up to gift cards to places like Amazon!

Pssst! If you are a blogger or you have a ton of social media followers, you can earn even more! So be sure to check that out here. And be sure to use one of these codes:

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Have you tried Dealspotr or another program like it? Tell us about it in the comments! 

Happy saving!

 

 

****This post is sponsored by dealspotr.com, a community to find coupons, coupon codes, and sales and even share deals that you’ve found as well. All opinions are my own, for better or for worse.****

 

 

 

 

 

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