When kids aren't motivated by money to do their chores

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When kids aren't motivated by money to do their chores

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If your child starts to get uninterested in doing their chores even if you compensate them in part by doing them, what can you do about that? So I think two good pieces of advice here is: number one, wait. Just wait, they're gonna want something down the road and it might be tomorrow or it might be next week or it might be two weeks from now, they're gonna want something and that becomes your teaching moment where you can say, "Well, if you want (whatever that is), then you really need to start pulling your weight around here." And when you do that, they're gonna start realizing right away, "Shoot, I've got to actually do this stuff that my mom wants me to do or my dad wants me to do." The second piece of advice there is, don't be worried about competition. And what do I mean by that? So when my daughter goes out on a babysitting job and comes home with thirty dollars and her brother sees that, that's some pretty big competition like, "Wow, my sister's loaded and I don't have any money." Don't be afraid of that, let the competition happen and all of a sudden, you'll see that that son will think, "Huh, I wanna do something to earn some money because my sister's raking it in when she goes to babysit." And don't be afraid of that. Let that happen because when that happens, kids will start being intrinsically motivated, they'll start to want to do things so that they can earn money, and they can start saving that money themselves.

View Gregg Murset, CFP's video on When kids aren't motivated by money to do their chores...

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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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