Archives for Earning

Chores: to pay or not to pay our children

Regardless of your decision to give your children pocket money or not, another vexed question many parents face is whether to pay their children for household chores. Let me make this clear. I’m not referring to pocket money that is tied to household chores. I’m referring to paying children to complete household chores, irrespective of whether they also get pocket money. Pocket money vs paying for chores We must clearly distinguish ‘pocket money’ from ‘paying for chores’. For me, pocket
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Why I pay my children to do housework

If you read my earlier post, you will know my position on paying children to do housework. I want to share 2 examples of how paying children to do housework is a good way to teach them the value of money. Pay someone else to do it Each of my children have allocated family chores. There are also family chores that anyone can complete if they would like to work for more money – for example, if they are saving for
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Ways to earn money for 10 year old

An older child has plenty more opportunities to earn money.  At the age of 10 years old, children are capable to completing tasks that require more co-ordination and attention span.  This age is the perfect opportunity to teach our ‘tween that with more freedom comes responsibility. From this age, children start to become aware of what their peers have.  They will start to test boundaries in asking for things that they ‘need’ simply because their peers have them.  This is the time to
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Opportunities to earn money: creativity

Opportunities are everywhere and the making of an entrepreneur is the ability to find these opportunities.  The earlier we teach our children to see opportunities the better will be their future.  I believe creativity is the cornerstone in finding opportunities to earn money.  Guess who are the most creative people on this planet??  Yep – CHILDREN! Children spend much of their childhood creating – if they aren’t they ought to be.  Whether they are painting, drawing, singing, writing, playing pretend
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Why children should ALWAYS have savings goals to work towards

I had a conversation with a friend the other day. She told me her children will not do any housework – not even when she pays them $0.50 for the chores. She explains it’s because $0.50 doesn’t go far these days, there is nothing that a child can buy with such a small amount, so it’s not enough as a motivator. In contrast, my own children often jump at the opportunity to do house work for ANY pay. So it
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