The debate has lasted for generations. Yes or No on the subject of Paying Kids For Chores – Should you pay children for their chores or should you raise them knowing that they have a roof over their head and that they should just know what standards are accepted under that roof? Each view point has their own reasoning for why it is the way it is and neither is technically wrong.
The bottom line is that the decision of chores and allowance is not what separates the good parents from the bad.
So, what’s the big deal about paying kids for chores? That was the very same question I asked when my husband first said he wanted to pay our kids for chores. “An allowance?” I asked with arrogance. All eyes were now on me as I held my son and fed him from a baby bottle in the middle of the Dave Ramsey Financial Peace University that we were both attending. I didn’t understand. I didn’t relate. It wasn’t the way that I was raised and I was okay with that. After all, we weren’t even able to pay our own bills and the thought of giving money to my kids was not something I was okay with. We needed every dollar plus a lot more if we were ever going to be financially free.
Growing up as a child I knew that there were certain things we did and didn’t do. Sure, we helped out around the house, especially when asked. I knew to be respectful towards my parents and not to ask for things that were too pricey.
The problem was, who was I to determine the value of a dollar?
The Benefits Of Paying Kids For Chores
- Kids learn from a young age that they must earn money
- They learn that everything cost something
- They get to feel a sense of reward when the piggy bank gets heavy or when they make a purchase
- It encourages kids to count
- They learn that each coin or dollar has a different value and how to properly count each one
- They learn responsibility
- Kids learn that their actions have consequences and that they can determine whether those consequences are good or bad
- Opens up yet another family bonding time
- Helps prepare them for the financial discussions that sadly break up so many marriages and hopefully will protect them from such tradegy
- Gives children the foundation for a financial freedom
Making decisions on paying kids for chores was not something that came easy to me but I have so enjoyed seeing the look on the faces of my kids as they run to me saying “I made up my bed mommy!”. They get excited because they know that means they are on their way to earning some money and I get excited because it means they are learning responsibility and to care for themselves. Ultimately, I don’t want my kids to grow up not knowing how to manage their money or not knowing what an interest rate looks like. I don’t want them to grow up thinking that they are entitled to certain brand names (for the record I love Michael Khors) or that it’s easy to get their dream home. I don’t want them to grow up and never be able to afford that dream home or to think they can, only to loose it.
Each family is different and each situation is different but I think every good parent out there wants to see their children become successful, to do better than the generation before, to not make the same mistakes. If you come from a heritage of financial struggle and don’t want to see your kids struggle in that same area then now maybe it is time to pay them for chores and along the way take the time to talk to them about those mistakes and teach them how to avoid them.
Paying Kids For Chores
Check Out These Free Chore Charts!