4.8 • 3.6K Ratings
🗓️ 20 November 2024
⏱️ 9 minutes
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0:00.0 | Well, hey you guys. So as a personal finance expert, who's also a mom, I get a lot of questions |
0:11.3 | when it comes to kids and money, which makes sense because I think as parents, we want to raise |
0:17.1 | our kids to be great adults in life and part of great adulting is understanding |
0:21.3 | how money works. |
0:23.2 | And also I talk to some people that say, I wish I had known this earlier. |
0:26.8 | And they're passing that on to their kids saying, if you can get this early, you can |
0:30.2 | avoid so many mistakes that I made as a parent when it comes to money. |
0:33.4 | So the motivation is so great and I love the conversation. |
0:36.7 | So today I'm sharing my take on whether or not your kids should get paid for household chores. |
0:42.3 | It's a very hot topic these days. |
0:44.4 | Stick around, hit that subscribe button, and also let me know your thoughts in the comments as we go. |
0:50.0 | So typically there's two different opinions on this topic. |
0:53.3 | It's either kids should never get paid |
0:55.5 | for any chores around the house. They are part of the family and they should just learn to help out. |
1:00.2 | And the other side is like, no, pay kids on everything because it teaches them earning money |
1:04.7 | and work ethic. There's so many great learning opportunities. So there's like these two extremes |
1:09.1 | and I'll be honest, I land right in the middle. |
1:13.0 | And the way my parents always did it growing up is that we were on the commission system, |
1:18.6 | not allowance. So if you work, you get paid. If you don't work, you don't get paid. But there's |
1:23.6 | also a few chores you're going to do because you're part of the family. There's also a set number of chores that you can do to earn money if that's what you want to do. |
1:32.5 | So again, falling in the middle, I think, is really the healthiest balance on both of them |
1:37.1 | because there's such, you know, great learnings on both sides of that argument. |
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