How much of your kids' allowance do they actually earn? Are you just handing out money for nothing? Is there a return on your investment? Does your allowance or chore payment system teach valuable long term life lessons? It's certainly worth thinking about. After all, the whole purpose of allowance is to develop a good work ethic. So, do your kids earn their allowance or is it handed to them on that proverbial silver platter?
Do your kids even know why they receive an allowance? It may seem like a silly question. It's also a good one. Have you made it clear to your kids that allowance is payment for completing their regular chores? Otherwise, you shouldn't really be disappointed if kids don't seem to be earning their weekly paycheck.
What happens when kids don't do their chores? Do you still pay them? Yes, they're cute and sweet. You love them to pieces. That doesn't mean you should ignore the fact that you've been taking out the trash for them for months. Hold kids responsible for their daily chores. Take away their allowance if they're not doing anything to earn it.
Is an hourly pay rate feasible for kids? It could be, if they're hard working kids. On the other hand, you don't want to get caught in that trap if they're only actually working a few minutes out of that hour. Sometimes it's better to set a specific payment for completed services. That way, if kids don't do what needs to be done, they don't reap the rewards.
Does your kids' effort justify their pay? In other words, are they earning money for a job well done or a job done well enough? There is a difference. Just because your kids complete a task, doesn't mean it's satisfactory work. Do you often go around behind them doing a clean up? When they get out in the working world, their bosses won't give them the same consideration. Prepare them now by basing their pay on the quality of work they do.
What do you get out of giving kids' allowance? The whole point of giving kids allowance is to train them for adult life in the work force or as successful entrepreneurs. They're supposed to be learning the value of a job well done. Your allowance strategy should reflect that. If you design and implement it with care, you get kids with a solid work ethic. If not, you may be paying kids something for nothing all their lives.
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