When I was young enough to still appreciate a dollar, my father made up a contract for my siblings and I with an agreement to do chores for X amount of dollars. I think I remember he even privately gave it to each of us so we never knew what the other contracts said for one another. I grew up waiting for Friday’s when my father would come home from the hospital and give me my crisp $5 bill, which I’d normally end up spending on renting a game or movie from Blockbuster for the weekend. A sega genesis game after tax came out to be about that amount back then. Later on in life my father opened my first checking account for me and my money was deposited there. I couldn’t of been prouder to own my own debit card that had my name on it.
I’ve got two kids and I’ve been teaching them the value of money. It becomes so easy for parents to buy an extra toy for a child at Target or Walmart, what’s $5 – $10 more when I’m already paying $150 on average every time I go to one of those succubuses?
I decided my father had the right idea and I started giving them a weekly allowance recently. They were already doing chores, but now their chores have even more meaning. We tried a chore chart… but you forget what you owe and when you owe it. Children quickly pick up on if a “reward” is bogus. They stop playing those games instantly!
We’ll see how this goes. We learn something new parenting everyday!