When doing chores doesn't equal getting an allowance

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When doing chores doesn't equal getting an allowance

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So there's such a big debate about chores and allowance and - you know, call it what you want to call it. Call it allowance, call it chores, call it commission, call it work-pay, whatever you wanna call it, but do one thing: tie your work to a reward because that's reality. When you teach a kid, you need to teach him reality so when you go for a job interview, you don't sit down and the interviewer asks you, "Hey, I've got this really nice job, you don't have to do anything, but I'll pay you." That's just not reality. There is no job like that that I'm aware of. So when you teach your kids, you need to teach them reality. I don't even like to call it chores anymore, I like to call it a job, because that's really what you're teaching them is, you're teaching them how to accomplish something, how to do something well and follow through. Kinda like job training. So call allowance or chores or whatever you want, call it what you want, but tie working and rewarding together and when you do that, the child will thrive.

Watch Gregg Murset, CFP's video on When doing chores doesn't equal getting an allowance...

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Gregg Murset, CFP

Founder & CEO, MyJobChart.com

Gregg Murset, CFP, is the father of six children, a Certified Financial Planner and the Founder and CEO of the fastest growing website, MyJobChart.com, which teaches kids about work and money.

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