Posts Tagged ‘kids ask for money’

Lilah (18 months) with my husband learning how to water our garden

My mom was recently looking through some old boxes when she came across one of my old chores schedules (see below). It reminded me of something that I need to start thinking about for my daughter. Chores!

I come from generations of entrepreneurs and my parents have owned their own business since I was 5 years old. Naturally, they were compelled to teach me about good work ethics and the value of money. Starting at a young age, I had chores and received a small allowance, but when I was about 10 years old they felt it was time to really learn about money.   

We had a large house filled with tons of plants and a huge yard with even more plants (no sprinkler system). My parents decided that they would pay me well for doing chores because “if you don’t do it, we’ll have to pay someone else to do it.” At that age, they also gave me the responsibility of buying all of my own clothes and paying for any extra activities. I was not allowed to ask for money for the movies or that pair of jeans “I just had to have.” They also would not provide me with candy, sweet cereal, or anything they deemed out of the ordinary for groceries, however I could buy those items for myself if I chose to do so. It was up to me to manage my money. They helped me start a savings account and encouraged me to use it.

Many people believe that kids should not be paid for chores because it’s just something they should do. However, if they are too young to get a job and earn money then they will come to you for money for everything little thing they want to do or want you to buy. It’s up to you to say yes or no and get hounded until you give in just to make them stop. At least with an allowance and a chores schedule that my parents set up, they knew how much they were paying out every week and I knew I could not ask for more. It was clear about what was expected of me. My chores had to be done on time, if they were not done on time I was docked money. As I grew older, I took on more responsibilities and received incremental increases (much like in a job). I can’t say I’ve been perfect with my money, but having responsibilities over my own money at a young age helped me understand that money does not grow on trees. Every parent has a different philosophy about this topic, but you have to do what works for you. Good luck!

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